US Treasury bonds extended their decline, with rising oil prices intensifying concerns about inflation and bolstering market expectations for further interest rate hikes by the Federal Reserve.

The yield on the 2-year Treasury note rose by 4 basis points to 4.19%.

The yield on the 5-year Treasury note increased by 5 basis points to 4.31%.

The yield on the 10-year Treasury note climbed by 4 basis points to 4.57%, while the 30-year Treasury yield advanced by 3 basis points to 5.03%.