U.S. Treasury yields fell on Monday morning, with investor attention turning to the release of inflation data and congressional testimony by Federal Reserve Chairman Jerome Powell later in the week.

The yield on the benchmark 10-year Treasury note fell 2 basis points to 1.334% at 3:45 a.m. ET. The yield on the 30-year Treasury bond dipped 1 basis point to 1.963%. Yields move inversely to prices and 1 basis point equals 0.01 percentage points.

The inflation rate for the U.S. in June is set to be released on Tuesday.

Meanwhile, Powell is due to give his semiannual monetary policy report before the U.S. House and Senate on Wednesday and Thursday.

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There are no major economic releases due out on Monday.

Auctions are due to be held on Monday for $54 billion of 13-week bills, $51 billion of 26-week bills, $58 billion of 3-week notes and $38 billion of 10-year notes.



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