Government bond prices edged higher Monday, ahead of a two-day meeting of the Federal Reserve.
The price of the 10-year Treasury note rose 31.2 cents per $100 invested. Its yield, which moves in the opposite direction, slipped to 3.37 percent from 3.40 late Thursday.
The bond market was closed Friday for the Good Friday holiday.
The Federal Reserve begins a two-day meeting on Tuesday. Traders will be watching for any changes to the Fed's outlook on the economy. They also expect to find out if the Fed's $600 billion bond-buying effort will expire as scheduled in June.
In other trading, the price of the 30-year bond rose 15.6 cents. Its yield slipped to 4.46 percent from 4.47 percent. The yield on the two-year note dropped to 0.64 percent from 0.67 percent
The three-month T-bill paid a 0.05 percent yield. Its discount was 0.06 percent.