Bond Report

Last Updated: April 17, 2023 at 3:39 p.m. ET

First Published: April 17, 2023 at 6:25 a.m. ET

Bond yields rose Monday as calmer conditions across markets softened demand for the perceived safety of government bonds, with the rate on the 2-year note hitting a one-month high.

What happened

What drove the market

Treasury yields climbed after data showed that the New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, jumped 35.4 points in April to 10.8. 

Economists…