10-year Treasury yields pull back from 2.8 percent, the highest level since August

Treasury yields retreat from 1-month high

NEW YORK — Treasury yields are retreating from their highest rates reached in a month.

The yield on the benchmark 10-year Treasury touched 2.83 percent Monday morning, the highest rate for the note since early August. By the early afternoon, the yield had dropped to 2.76 percent.

The price of the note maturing in 2020 rose to $98.84, up from $98.50 late Friday. Bond prices and yields move in the opposite direction. When bond prices fall, their yields rise.

Treasury yields climbed last week on the strength of better-than-expected economic news, as investors sold safe Treasury debt in search of riskier assets.

In other trading on Monday afternoon, the yield on the 2-year note inched lower, to 0.54 percent from 0.57 percent late Friday. The yield on the 30-year long bond also fell — from 3.87 percent to 3.85 percent.