A week of predominantly housing reports, no Treasury coupon auctions, and very little Federal Reserve speak was supposed to provide a respite after the sharp sell-off last week via upbeat assessments of the economy in the Federal Open Market Committee (FOMC) statement.

That assessment pushed the 10-year note yields to nearly 2.30% from 2.03% at the start of the week prior. This is its highest level since late October.

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