U.S. Treasury yields dipped on Monday morning, with the 10-year falling to around 1.27%.

The yield on the benchmark 10-year Treasury note fell 2 basis points to 1.275% at 3:30 a.m. ET. The yield on the 30-year Treasury bond dipped 2 basis points to 1.905%. Yields move inversely to prices.

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In terms of data due out on Monday, the National Association of Home Builders is set to release its latest survey results at 10 a.m. ET, giving consumers a glimpse into sentiment across the housing market. Economists polled by Dow Jones expect the reading to be unchanged from the prior month at 81. Anything above 50 is considered positive sentiment.

Auctions are due to be held on Monday for $54 billion of 13-week bills and $51 billion of 26-week bills.

CNBC’s Pippa Stevens contributed to this market report.

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