US Treasurys fall as ‘risk-on’ sentiment gains


U.S. sovereign bond prices edged lower Monday as investors focused on comments from Federal Reserve members and fluctuations in oil prices.

The yield on the benchmark 10-year Treasury note, which moves inversely to its price, rose to 1.914 percent, while the yield on the 30-year Treasury bond also climbed to 2.715 percent.

Major U.S. averages rose slightly Monday, while European stocks largely fell.

Jeffrey Lacker, president and chief executive officer of the Federal Reserve Bank of Richmond.
Fed's Lockhart: Hike possible as early as April

Speaking at a central banking conference in Paris Monday morning, Richmond Fed President Jeffrey Lacker injected confidence into markets, saying he was "reasonably confident" that inflation would move back to the Federal Reserve's target of 2 percent. He said inflation would recover after the oil price bottomed and the U.S. dollar reached a top.

In remarks for the Rotary Club of Savannah, Atlanta Fed President Dennis Lockhart said a rate hike could come as early as April.

On the data front, the Chicago Federal Reserve National Activity index reading for February came in at -0.29. Existing home sales tumbled 7.1 percent last month, hitting their lowest level since November.

St. Louis Fed President James Bullard is set to address economic inequality at 8:30 p.m. ET.