The sell-off began after yields on the 10-year Treasury note, which is the benchmark for interest rates, inched toward 5 percent.

In when-issued trading late in the day yesterday, yields inched higher.

Inflation fears continued to drive Treasury prices lower yesterday, and the yield on the 30-year bond inched closer to 7 percent.

While still low, yields and interest rates have been inching back up of late.

The yield on the 30-year Treasury bond inched up to 5.96 percent, from 5.95 on Thursday.

The yield on the two-year note, which was auctioned at 3.92 percent, had inched up to 3.93 percent by late in the day.

The price of the 10-year note was also up 4/32 as the yield inched down to 5.93 percent from 5.95 percent.

The price of the two-year Treasury note was down 2/32 as the yield inched up to 3.86 percent, from 3.83 percent Monday.

The yield on the 30-year Treasury bond inched back up toward 7.5 percent yesterday in very volatile trading.

The yield on the 30-year bond inched up to only 5.51 percent from 5.50 percent.