Following the sharp pullback seen during Friday's session, treasuries saw further downside during trading on Monday.
Bond prices came under pressure in early trading and remained firmly negative throughout the day. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 7.5 basis points to 3.521 percent.
The ten-year yield added to the 9.5 basis point jump seen in the previous session, continuing to regain ground after hitting its lowest closing level in almost a month last Thursday.
The extended pullback by treasuries came as traders continued to react to last Friday's monthly jobs report, which showed stronger than expected job growth in the month of April.
Trading activity remained somewhat subdued, however, as traders looked ahead to the release of key inflation data later in the week.
The reports on consumer and producer price inflation, which are due to be released on Wednesday and Thursday, respectively, could have a significant impact on the outlook for interest rates.
Ahead of the data, CME Group's FedWatch Tool is currently indicating an 84.5 percent chance the Federal Reserve will leave interest rates unchanged at its next meeting in June.
Fed Chair Jerome Powell said following last week's rate hike that the central bank would take a "data-dependent approach" to future monetary policy decisions.
Trading activity may remain relatively subdued on Tuesday amid another quiet day on the U.S. economic front.
