Treasury yields rise as inflation concerns persist

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.

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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.

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