The 10-year U.S. Treasury yield climbed higher to start the trading week, rising above 1.6% at one point in the morning.
The yield on the benchmark 10-year Treasury note rose more than a basis point to 1.589% at 4:10 p.m. ET. The yield on the 30-year Treasury bond fell 2.6 basis points to 2.024%. Yields move inversely to prices and 1 basis point is equal to 0.01%.
The 10-year rate was on the rise on Friday, topping 1.57%, after data showed that retail sales rose by 0.7% in September, versus an expected decline of 0.2%.
Homebuilder sentiment bounced back in October despite ongoing supply chain problems, according to data released Monday. Builder confidence in the single-family home construction market rose 4 points to 80 on the National Association of Home Builders/Wells Fargo Housing Market Index. It's still down from 85 in October 2020 and from the record high 90 in November 2020.
Auctions were held on Monday for $48 billion of 13-week bills and $45 billion of 26-week bills.