U.S. Treasury yields edged lower on Monday, driven by renewed anxieties surrounding the global economic landscape. Investors sought refuge in the safety of government bonds amid concerns about slowing growth.

The yield on the benchmark 10-year Treasury note fell to 1.59%, while the 30-year bond yield also decreased. Shorter-term Treasury bills also saw declines, reflecting a broad-based move towards safety.

Contributing to the downward pressure on yields was weaker-than-expected manufacturing data. The report raised concerns about the strength of the economic recovery and fueled speculation that the Federal Reserve might delay plans to taper its asset purchase program.

Market participants are closely monitoring upcoming economic data releases, including the monthly jobs report, for further insights into the health of the economy. These data points will be crucial in shaping expectations for the Federal Reserve’s future policy decisions.

Heightened uncertainty surrounding the European debt crisis also contributed to the risk-off sentiment in the market. Concerns about the economic outlook for several Eurozone countries continue to weigh on investor confidence.

Analysts suggest that Treasury yields are likely to remain volatile in the near term, as investors grapple with conflicting signals about the global economy and the future path of monetary policy.