(Bloomberg) -- Treasuries fell as a rebound in US technology shares sapped haven demand for US government debt.
The declines lifted yields across maturities by six to eight basis points as traders rebuilt wagers on Federal Reserve interest-rate hikes next year, while continuing to price in another quarter-point increase in December. The 10-year yield rose more than six basis points to 5.14%.
The Nasdaq 100 Index climbed 1.2% Monday as the artificial-intelligence trade resurfaced, following a rout that saw the gauge suffer the steepest drop in more than a year.
“Market positioning is still quite tenuous given the recent whipsaw selloff and rally, which is keeping a lot of investors away, exacerbating the day-to-day moves,” said Gennadiy Goldberg, head of US interest rates strategy at TD Securities.
Just last week, the tech index fell the most since April 2025, temporarily reigniting demand for Treasuries as a hedge against equity losses. Yields remain near multiyear highs reached in the past month, offering ample protection from a broader retreat from US stocks.