U.S. Treasury yields were lower on Monday, adding to declines seen on Friday after the April jobs report showed weaker-than-expected wage growth.
The return on the 10-year treasury fell 2 basis points to 4.481%. The 2 year treasury The interest rate fell by 1 basis point to 4.799%. Yields and prices move in opposite directions. One basis point corresponds to 0.01%.
U.S. payrolls rose by just 175,000 last month, the Bureau of Labor Statistics said Friday, less than economists' Dow Jones estimate of 240,000. The unemployment rate rose to 3.9%, while one estimate called for the unemployment rate to remain stable at 3.8%. Wage growth was also less than expected, the report showed.
Uncertainty about how many rate cuts will happen this year and when they might begin has increased in recent weeks, with many investors now expecting fewer cuts and not until later in the year. Friday's weak labor market report could allow the Federal Reserve to cut rates sooner.
Richmond Fed President Tom Barkin and New York Fed President John Williams will both speak.
— CNBC's Samantha Subin contributed to this report.
