U.S. Treasury yields inched higher on Monday after the U.S. bombing of Iran and as investors awaited a batch of key economic data this week.

At 5:25 a.m. ET, the 10-year yield was more than 1 basis point higher at 4.387%, and the 30-year yield moved over 1 basis point higher to 4.903%. The 2-year yield also added 1 basis point to reach 3.918%.

One basis point is equal to 0.01%, and yields and prices move in opposite directions.

Investors are on high alert after the U.S. entered the war between Israel and Iran on Saturday by attacking Iranian nuclear sites in Fordo, Natanz and Isfahan.

"There will be either peace, or there will be tragedy for Iran far greater than we have witnessed over the last eight days. Remember, there are many targets left," Trump said from the White House after the strikes.

Investors, who were formerly expecting diplomacy, are now bracing for Iran's retaliation. That could include targeting U.S. personnel in nearby bases or closing the Strait of Hormuz, which would disrupt global oil flows.

Iran's Foreign Minister Abbas Araghchi said on social media that the U.S. attacks would have "everlasting consequences," and that "every member of the United Nations must be alarmed over this extremely dangerous, lawless and criminal behavior."

Deutsche Bank analysts said in a note, "In terms of the economic impact, the US has turned into a net energy exporter in the last few years so any negative impact would be through deteriorating financial conditions or through higher for longer rates as the Fed have another reason to delay cuts."

Investors will also await a series of economic data this week, including existing home sales data for May on Monday, gross domestic product growth rate on Thursday, and the personal consumption expenditures index on Friday.