US Treasury prices fall as oil buoyed

U.S. sovereign bond prices fell Monday as oil and stock prices climbed and investors digested data.

The yield on the 10-year Treasury note, which moves inversely to its price, rose to 1.751 percent, while the yield on the 30-year Treasury bond climbed to 2.591 percent.


In oil markets, prices were buoyed Monday after Goldman Sachs issued a rare bullish call on oil, suggesting the market has gone from a near-saturation point to a deficit. Brent traded 2.4 percent higher to $48.98 a barrel. WTI settled up $1.51 at $47.72 a barrel, its highest since Nov. 3.

U.S. stocks climbed with major U.S. averages adding at least 1 percent each.

In economic news, a monthly index of sentiment by the National Association of Home Builders (NAHB) registered 58 yet again in May for the fourth straight month. The Federal Reserve Bank of New York said its Empire State manufacturing index slumped to minus 9 in May, after reaching 9.6 the previous month.

Former Federal Reserve Chair Ben Bernanke will join Minneapolis Fed President Neel Kaskhari at the Minneapolis Fed Second Symposium on a panel entitled "Ending Too Big To Fail" from 3 p.m. to 5 p.m. ET.

—The Associated Press and CNBC's Diana Olick contributed to this report.