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After ending last Friday's trading roughly flat, treasuries showed a strong move to the upside during trading on Monday.

Bond prices showed a strong upward move early in the session and remained firmly positive throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 2.5 basis points to 2.875 percent.

The strength among treasuries came amid continued trade concerns after a report from the Wall Street Journal said President Donald Trump plans to ban many Chinese companies from investing in U.S. technology firms and block additional technology exports to Beijing.

Trump also continued his harsh rhetoric on trade in a post on Twitter on Sunday, urging countries to remove "artificial" trade barriers and tariffs on U.S. goods.

"The United States is insisting that all countries that have placed artificial Trade Barriers and Tariffs on goods going into their country, remove those Barriers & Tariffs or be met with more than Reciprocity by the U.S.A. Trade must be fair and no longer a one way street!" Trump tweeted.

Meanwhile, traders have largely shrugged off a report from the Commerce Department showing a bigger than expected rebound in new home sales in the month of May.

The Commerce Department said new home sales spiked by 6.7 percent to an annual rate of 689,000 in May after plunging by 3.7 percent to a revised rate of 646,000 in April. Economists had expected new home sales to climb by 1.5 percent.

Trading on Tuesday may be impacted by reaction to the Conference Board's report on consumer confidence in the month of June.

Bond traders are also likely to keep an eye on the results of the Treasury Department's auction of $34 billion worth of two-year notes.