Treasury yields tick higher as traders asses timeline of interest rate cuts

U.S. Treasury bond yields rose on Monday following comments by a Federal Reserve official suggesting that interest rates may not be cut until December. The 10-year Treasury yield increased, while the 2-year Treasury note yield also went up. The comments by the official noted the need for more evidence to determine whether inflation is on track to reach the target of 2%. Last week, lower-than-expected inflation figures had raised expectations of a rate cut. Key data, including retail sales figures, are expected to be released this week. The markets will be closed on Wednesday for the Juneteenth holiday.