Treasuries See Further Downside After Early Rebound

(RTTNews) - After rebounding from last Friday's sell-off early in the session, treasuries once again came under pressure over the course of the trading day on Monday. Bond prices pulled back well off their early highs and into negative territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 2.8 basis points to 4.623 percent. With the turnaround, the ten-year yield added to the 13.4 basis point surge seen in the previous session, reaching its highest closing level in over a year. The weakness that emerged among treasuries came amid an extended increase by the price of crude oil, with U.S. crude oil futures jumping by 1 percent.