Short-dated Treasury yields jumped on Monday, led by the one-month T-bill rate, as President Joe Biden and House Speaker Kevin McCarthy were set to gather for a meeting at the White House. The one-month T-bill rate was 5.598% as of 9:10 a.m. Eastern time, up from Friday’s close of 5.513%, according to Tradeweb data. That’s a touch below the multi-year high of 5.68% reached earlier this month. The rise in the one-month rate indicates that investors and traders are avoiding the underlying Treasury bill, given concerns over whether the government would be able to pay its obligations after June 1.

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