Yields on US Treasuries, which move in the opposite direction to bond prices, rose on Monday after Pfizer and BioNTech said their COVID-19 vaccine was 90% effective, leading to widespread optimism over the future of the global economy.

The return on the 2-year note increased by 1.4 basis points to 0.169% at 7:26 am ET. The 10-year bond yield jumped 9 basis points to 0.91% at 7:27 am ET and the 30-year Treasury yield surged by 10.1 basis points to 1.699%, hitting March highs.

Their respective bond futures were down 0.02%, 0.52% and 1.43%, all at 7:18 am ET.