U.S. government debt prices were lower Monday morning, following disappointing Chinese exports data.
New data out of China showed that exports unexpectedly fell in August with a large contraction for shipments to the United States. The drop indicates further weakness in the world's second largest economy and puts further pressure on Chinese lawmakers to announce new economic stimulus.
Market sentiment is also somewhat cautious on the back of a disappointing U.S. jobs report at the end of last week.The U.S. Treasury is set to auction $87 billion in 13 and 26-week bills.
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