U.S. Treasury yields rose on Monday as concerns about inflation and economic growth remained in focus for investors.
The yield on the benchmark 10-year Treasury note climbed 7 basis points to 2.866%. The yield on the 30-year Treasury bond moved 7 basis points higher to 3.072%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
Treasury yields moved lower throughout last week, as investors looked to find a safe haven in government bonds, amid heavy selling in stock markets. The S&P 500 briefly dipped into bear territory on Friday, with the benchmark index falling 20%.
However, U.S. equities were on the rise on Monday, with investors appearing to rotate slightly out of bonds, pushing yields up.
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There were no major economic data releases due out on Monday. Investor focus is likely to be on a speech by Federal Reserve Chairman Jerome Powell, scheduled for Tuesday, as well as a second reading of first-quarter gross domestic product data, due out on on Thursday.