The price of 10-year Treasury futures for June delivery , the most-traded contract, traded as high as 94.365 on Monday afternoon, its highest level since Oct. 24.

It ended up 0.59 percent at 94.355, its largest daily percentage gain since March 23.

An asset management industry executive in Shanghai said that sparse trading of Treasury futures contracts made it possible for a few market particpants to have an outsized effect on pricing.