Treasuries fell on Monday extending severe selloff that was seen last week.
U.S 5-year yields rose six basis points surpassing 2% for the first time since May 2019 while 10-year yields climbed to 2.05%.
Yields across the curve are at or near multi-year highs amid red hot inflation and an imminent global shift toward restrictive monetary policy.
The 30-year breakeven rate which is a market proxy of inflation expectations hit 2.60% last week marking highest since 2013. Swaps traders shows confidence that the Federal Reserve will raise interest rates 25 basis points this week.