The S&P 500 and the Nasdaq touched near five-month lows on Monday as the yield on the benchmark U.S. 10-year Treasury note hit the crucial 5% mark, while investors awaited earnings from the world's largest technology companies and key economic data.
on the 10-year note touched the July 2007 milestone that it briefly attempted to scale last week. It was last at 4.9758%. Yields on the 2-year and 30-year notes also rose.
"Upward pressure on yields has also comes from increased concern over the large amount of government debt needing to be absorbed by the market."
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