The 10-year Treasury yield remains below 4.5% following weaker-than-anticipated U.S. employment data.

On Monday, U.S. Treasury yields decreased, following a decline that began after the April jobs report revealed weaker-than-anticipated payrolls growth and an unexpected increase in unemployment.

The yield on the was slightly lower to 4.8056%. Yields and prices move in opposite directions. One basis point is equivalent to 0.01%.

The Bureau of Labor Statistics reported that U.S. payrolls increased by only 175,000 last month, which was below the estimated 240,000 by economists. Additionally, the unemployment rate rose to 3.9%, contrary to the prediction of holding steady at 3.8%. The report also indicated that wage growth was less than anticipated.

The possibility of rate cuts this year and their potential timing has become increasingly uncertain in recent weeks, with many investors anticipating fewer cuts and a later start date. The weak labor report on Friday could prompt the Federal Reserve to act sooner and cut rates.

On Monday, both Tom Barkin, president of the Richmond Fed, and John Williams, president of the New York Fed, are scheduled to speak on the economic front.

— CNBC's Samantha Subin and Pia Singh contributed to this report.