Treasury yield was only slightly higher Monday morning, given an apparent unwillingness by traders to fade the move below 4.5% on the rate. "A sideways shuffle in yields has seemingly emerged as the path of least resistance as the final week of the month gets underway,

Treasury yields weaken on signs that the U.S. economy came close to stagnation amid uncertainty about government policies. The S&P Global Flash U.S. PMI Composite Output Index declines to 50.4 this month from 52.

U.S. Treasury yields slipped on Friday, with short-dated notes tallying their biggest one-day drop since January after a fresh batch of data raised questions about the strength of the U.S. economy.