Treasury yields rise as global bond selling resumes

U.S. Treasury yields rose Monday as global government bond selling resumed, driven by higher oil prices and persistent inflation concerns. The 10-year note yield climbed over 2 basis points to 5.2087%, while the 2-year yield gained more than 4 basis points to 4.9056%. The moves follow a volatile week where the 10-year yield hit its highest since June 2007 and the 30-year touched levels unseen since 2004. Yields on U.K. Gilts, French, and Japanese bonds also increased, with West Texas Intermediate crude rising nearly 2% to $94.19 a barrel. Investors now await key U.S. data this week, including nonfarm payrolls, unemployment, core PCE inflation, and GDP figures. August's JOLTS report, due Tuesday, is forecast to show job openings dipping slightly to 7.24 million from 7.27 million in July.