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.
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.