Treasury yields rose as investors continued to assess the outlook for the economy and monetary policy, after last week's hawkish comments from the Fed.
Fed on Wednesday opted to hike its key interest rate by 50 basis points
to its highest level in 15 years, but Chairman Jerome Powell also indicated that the central bank's efforts to rein in inflation are far from over, and said policymakers will "have to stay at it." Recession fears were revived as the central bank raised its forecast for rate increases to 5.1%, sending risk assets into a tailspin. However, some risk-on sentiment seemed to be cautiously returning on Monday.
Auctions will be held Monday for $54 billion of 13-week Treasury bills and $45 billion of 26-week bills.
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