US Treasury debt prices were mostly little changed on Monday, with longer-dated maturities giving back some gains from last week, as equity markets rose on signs China was moving to bolster its massive economy. As Wall Street stocks jumped more than 1 percent, yields on the benchmark 10-year note stayed well below the 2 percent touched last week and were last at 1.96 percent on a price decline of 4/32.
The long bond was off 20/32 in price and yielding 2.55 percent, according to Thomson Reuters data.
Stocks, which often move inversely from bonds in prices, surged to seven-year highs in China, helped by Beijing's unveiling of an ambitious plan to build a modern Silk Road to Europe and Africa.
Wall Street got added lift from a flurry of biotech merger deals and European shares were also up on Monday.
Analysts say investment in the "One Belt, One Road" infrastructure initiative this year alone could reach 300 billion to 400 billion yuan ($48-64 billion).
Comments from People's Bank of China Governor Zhou Xiaochuan added to expectations of more monetary policy easing.
"There's a little bit of a risk-on trade," said Larry Milstein, head of US government and agency trading at R.W. Pressprich & Co. in New York.
Shorter Treasury maturities were narrowly mixed as mutual funds and institutional investors readied portfolios for the end of 2015's first quarter on Tuesday and the US unemployment report on Friday.
That end-of-quarter demand should limit price declines in Treasuries during coming days, as should government bond buying programs meant to stimulate economic growth, institutional investors said.
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