Yields took off after Brainard said she expects rapid reductions to the Fed's balance sheet alongside methodical increases to the benchmark rate.
Wednesday brings the release of minutes from the Fed's last policy meeting. The ECB will publish its equivalent minutes on Thursday.The yield on 10-year Treasury notes was up 12.9 basis points to 2.541% while the 2-year note yield was up 9.2 basis points at 2.520%, leaving the 2-10 curve at 2 basis points after having been inverted for the most part since last week.
Investors were also watching for further developments on possible new sanctions against Russia after dead civilians were found in Ukraine. An EU source told Reuters the European Commission could propose coal, wood and chemicals bans as well as new limits on shipping and trucking and on banks and technology.
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