Authorities bond yields are falling amid requires a diminished incentive

US Treasury bond yields fell slightly on Monday, the first day of trading in February.

The benchmark 10-year Treasury note yield fell to 1.08% around 3:30 p.m. ET while the yield on the 30-year Treasury note fell to 1.85%. The returns move inversely to the prices.

U.S. Treasury bond yields fell earlier in the week after 10 Republican senators sent a letter to Biden on Sunday asking him to consider a smaller, alternative Covid-19 relief spending plan.

Auctions will be held on Monday for 13-week bills valued at $ 54 billion and 26-week bills valued at $ 51 billion.

– CNBC’s Amanda Macias contributed to this report.