U.S. Treasury is due to hold an auction of 5-year notes in the afternoon while investors await Thursday's releases of key economic data on inflation.

The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — fell more than 6 basis points to 4.510%.

The 30-year yield declined 0.057 percentage point to 5.024% today. The price rose 28/32 to 99 20/32.