Treasury yields rose Monday morning as investors continued to worry about inflation and economic growth.
The 10-year Treasury benchmark yield rose 4 basis points to 2.828% at 5:45 am ET. The yield on the 30-year government bond went up 3 basis points to 3.027%. Yields move inversely to prices and 1 basis point equals 0.01%.
Treasury yields fell last week as investors sought a safe haven in government bonds amid heavy selling in stock markets. The S&P 500 briefly plunged into bear territory on Friday, with the benchmark index falling 20%.
However, on Monday morning, US stock futures were on the rise, with investors appearing to rotate slightly out of bonds, pushing interest rates up.
No major economic data will be released on Monday. Investors’ focus will likely 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, expected on Thursday.