U.S. 10-year and 30-year Treasury yields fell Monday morning to start the week.
The yield on the benchmark 10-year Treasury note fell by 1.5 basis points to 1.326% at 3:47 p.m. ET. The yield on the 30-year Treasury bond gave up 2.9 basis points, falling to 1.905%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
Treasury yields rose on Friday after August's producer price index, one measure of inflation, increased 0.7% versus a forecast of 0.6%.
Investors will now be looking to the August consumer price index, a more direct measure of inflation, which is due to come out at 8:30 a.m. ET. on Tuesday. Economists surveyed by FactSet are expecting the reading to show that consumer prices jumped 5.3% on an annual pace in August.
Inflation is one economic indicator, along with jobs data, being monitored by the Federal Reserve to determine its timeline on tightening monetary policy. The Fed is due to kick off its next two-day policy meeting on Sept. 21.
"Next week's Fed meeting could hold important guidance around how it will structure asset purchase reductions, although a formal announcement is more likely at the November meeting," U.S. Bank Wealth Management's Bill Merz said.
— CNBC's Pippa Stevens contributed to this report.