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NEW YORK (CNNMoney) -- Treasury prices inched up Monday as bond traders shifted their focus from Osama bin Laden's death to a weak report on U.S. manufacturing.
U.S. bonds initially sold off in Asian markets overnight, after President Obama announced the death of al Qaeda leader bin Laden.
Because the announcement seemed to signal reduced geopolitical tension, it temporarily pushed trades away from low-risk Treasury bonds, said Guy LeBas, chief fixed income strategist with Janney Montgomery Scott.
But the initial euphoria fizzled out later Monday as investors digested a report from the Institute for Supply Management.
"This morning started out with a focus on the death of Osama bin Laden, but that faded," LeBas said. "We're now contending with the ISM Manufacturing Index, which indicated a bit of a slowdown."
The index slowed to 60.4 in April, down from 61.2 the month before. Any number above 50 indicates growth in the manufacturing sector.
Treasury prices gained some upward momentum following the ISM numbers, as investors sought a safe haven. Yields, which move in the opposite direction, fell.
The 10-year yield dropped to 3.29% . The 30-year yield fell to 4.39%. The yield on the 2-year note fell to 0.6% and the 5-year note fell to 1.97%.
Traders are looking ahead to a major announcement from the Treasury Department on Wednesday that will indicate how much money the U.S. government plans to borrow in the next quarter. The so-called quarterly refunding report is expected to indicate the U.S. government is dangerously close to breaching its debt ceiling.
Investors will also keep an eye on the latest jobs report data, due Friday. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.88% | |
| 15 yr fixed | 3.20% | 3.23% | |
| 5/1 ARM | 3.84% | 3.88% | |
| 30 yr refi | 3.82% | 3.93% | |
| 15 yr refi | 3.20% | 3.23% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
| S&P 500 | 3,913.10 | -2.36 | -0.06% |
| Treasuries | 1.73 | 0.00 | 0.12% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
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