The rate on the long bond climbed as much as 5 basis points on Monday to about 4.86%, the highest since November 2023, before a $58 billion sale of three-year notes. The market is bracing for a combined $119 billion of US government-debt issuance this week. The Treasury will also auction 10-year notes Tuesday and 30-year bonds Wednesday, each a day earlier than normal due to Thursday's state funeral of former President Jimmy Carter.
