The U.S. 10-year Treasury yield jumped on Monday as investors digest a flurry of speeches from Federal Reserve policymakers.
The yield on the 10-year Treasury rose nearly 12 basis points to 4.194%, touching its highest level since late July. The yield on the 2-year Treasury was up about 7 basis points to 4.027%.
Yields and prices move in opposite directions. One basis point equals 0.01%.
On a day without any major economic data releases, market participants are likely to scrutinize comments from officials at the U.S. central bank.
Noting a resilient economy and strong labor market, Minneapolis Fed President Neel Kashkari said on Monday longer-term trajectory for rates could be higher than it has been in the past. Dallas Federal Reserve President Lorie Logan said she supports the current move to lowering interest rates, but that a patient approach will be needed.
"If the economy evolves as I currently expect, a strategy of gradually lowering the policy rate toward a more normal or neutral level can help manage the risks and achieve our goals," Logan said during a speech in New York. "However, any number of shocks could influence what that path to normal will look like, how fast policy should move and where rates should settle. In my view, the [Federal Open Market Committee] will need to remain nimble and willing to adjust if appropriate."
Kansas City Fed President Jeff Schmid and San Francisco Fed President Mary Daly are also delivering remarks on Monday.
Money Report
The Federal Open Market Committee took the unusual step last month of lowering its baseline interest rate by a half percentage point, or 50 basis points, to a target range of 4.75% to 5.00%.
— CNBC's Jeff Cox contributed to this report.
