Eurozone bond yields declined slightly as recent comments by ECB policymakers dampened the likelihood of aggressive monetary policy tightening.
The yield on 10-year German government bonds fell by 1.2 basis points to 0.982%, while the yield on 10-year Italian government bonds fell by 1.5 basis points to 2.898%. The yield on 10-year Spanish government bonds also fell - by 2 basis points to 2.048%.
Experts predict that the yield on 10-year German government bonds will remain around 1% until the next ECB meeting, which will be held on June 9.
Later today, market participants will monitor the publication of key US inflation data - at 12:30 GMT, the personal consumption expenditure price index for April will be released - which may support the US dollar.
Meanwhile, analysts note that inflation data for the eurozone, which will be presented on Tuesday, put the recent spread tightening between core and peripheral yields to a test.
In addition, today the rating agency Fitch will revise its ratings of Italy.