Treasuries fell for the fourth session after a series of policymakers indicated the Federal Reserve will take a cautious approach to interest-rate decisions.
Two-year yields rose three basis points to 3.60% and increased across tenors, extending a move that began last week after the Fed delivered a quarter-point cut.
Following that decision, Chair Jerome Powell said the Fed is in a meeting-by-meeting situation, sparking the retreat. Comments from several Fed officials on Monday reiterated that tone as inflation continues to run above the bank’s target.
“Fed speakers were relatively hawkish,” said