Longer-dated U.S. Treasurys yields rose on Monday on profit-taking after hitting multi-month lows last week, and on reduced bids from European traders following the close of European markets.
Traders sold 30-year Treasury bonds after their yields hit 3.3 percent last Thursday, which marked their lowest since June. Benchmark 10-year U.S. Treasurys yields also rose after briefly falling below 2.5 percent, which some view as a key technical resistance level.
"The longer end of the market has run a long way," said Wilmer Stith, fixed income portfolio manager for Wilmington Trust in Baltimore, Maryland. He said Monday's move up in yields was a "natural give-back."
Mixed economic data and a generally dovish outlook from the Federal Reserve have weighed on U.S. bond yields. In addition to the drop in longer-dated Treasurys yields last Thursday, benchmark 10-year Treasury yields fell as low as 2.473 percent that day, or the lowest since late October.
Investors also said the possibility of another cut in interest rates from the European Central Bank at its next policy meeting in early June made U.S. Treasurys yields more attractive to European investors, but that the bid lost some momentum after European markets closed.