The sell-off in government bonds picked up steam early Monday, as the 10-year Treasury note spiked to 2.64%, it's highest level since August 2011 and up more than a percentage point since early May.
Investors have been bailing on bonds with greater urgency since Wednesday, when Federal Reserve chairman Ben Bernanke said the central bank would start phasing out its bond-buying program later this year if the economy continues its upward trajectory.
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