us treasury yields ticked higher on monday morning with the 10year rate topping the 166 mark the yield on the benchmark 10year treasury note climbed by 1 basis point to 16661 at 345 am et the yield on the 30year treasury bond added 1 basis point at 21084 yields move inversely to prices and 1 basis point is equal to 001 the rise in yields follows comments made by federal reserve chairman jerome powell on friday at the virtual bank for international settlements conference i do think its time to taper i dont think its time to raise rates powell said according to a reuters report powell said that he expected inflationary pressures to ease next year treasury secretary janet yellen said in an interview with cnn on sunday that she expected inflation levels to fall back to the more acceptable 2 level in the middle of the second half of 2022 ben gutteridge director of invesco model portfolio services told cnbcs squawk box europe on monday that he agreed with yellens view that inflationary pressures do seem to be persisting more than most had anticipated and will likely take a little bit more time to settle down as a result there are no major economic data releases due out on monday auctions are scheduled to be held on monday for 54 billion of 13week bills and 48 billion of 26week bills