U.S. Treasury yields fell in early trade, extending last week's trend, as the economic outlook softens.

U.S. first-quarter GDP was revised lower to -0.5% from -0.2% previously, while consumer confidence is weak, data last week showed.

"As a result, U.S. yields declined and the dollar fell further, also due to speculation that Trump may soon pick a more dovish replacement for [Federal Reserve Chair] Powell," Generali Asset Management said in a note.