Government bond prices fell Monday ahead of $66 billion in debt auctions this week.
Treasury prices fell after last week's big gains, when traders put money into safe investments on fears that the U.S. economic recovery was weakening. The yield on the 10-year Treasury note fell below 3 percent.
On Monday, the price of the 10-year Treasury note fell 18.7 cents for every $100 invested. That sent the yield higher to 3.01 percent from 2.99 percent late Friday. When bond prices rise, yields fall.
In other trading, the price of the 30-year bond fell 50 cents. Its yield rose to 4.25 percent from 4.22 percent. The yield on the two-year note was unchanged at 0.43 percent.
The government is holding three auctions this week to raise a total of $66 billion. The first is a sale of $32 billion in three-year notes Tuesday. Bond prices usually come under pressure when new supplies of debt are about to enter the market.
The yield on the three-month T-bill was unchanged at 0.03 percent. Its discount was 0.04 percent.