• Nonfarm payrolls rose by 303,000 in March, according to the Labor Department's Bureau of Labor Statistics, above the Dow Jones estimate of 200,000.
• Policymakers and investors will gain fresh insights into the state of the economy from key economic data slated for this week.
• The minutes from the Fed's last meeting will be released this week, giving investors additional insight into the thinking of central bank officials.

U.S. Treasury yields were higher on Monday as investors digested Friday's jobs report and looked ahead to key data slated for the week that could provide hints about the outlook for interest rates.

At 4:09 p.m. ET, the yield on the 10-year Treasury was 4 basis points higher to 4.42%, trading around its highest level so far this year. The 2-year Treasury yield was last at 4.793% after rising 6 basis points.

Yields and prices move in opposite directions and one basis point equals 0.01%.

Investors considered the state of the economy and what this could mean for monetary policy after the March jobs report, which was published Friday, came in much higher than expected.

Nonfarm payrolls rose by 303,000 in March, according to the Labor Department's Bureau of Labor Statistics, above the Dow Jones estimate of 200,000. In February, nonfarm payrolls had increased by a downwardly revised 270,000.

The data heightened concerns about whether a resilient economy and labor market could result in interest rates remaining elevated for longer than anticipated.

Policymakers and investors will gain fresh insights into the state of the economy from key economic data slated for this week. This includes the consumer price index and producer price index readings for March, which will reflect how inflation is developing.

Several Fed officials are also due to make remarks this week and the minutes from the Fed's last meeting will be released, giving investors additional insight into the thinking of central bank officials.