Treasury yields were higher on Monday as traders looked ahead to the latest FOMC minutes due later in the week.

The 30-year Treasury yield, which is typically sensitive to geopolitical events, advanced more than 4 basis points to 5.311%. It reached its highest level since June 2007.

The 10-year Treasury note yield — the main benchmark for mortgages, auto loans and credit card debt — was more than 2 basis points higher at 4.724%.

The yield on the 2-year Treasury note, which typically reacts in line with short-term Federal Reserve interest rate decisions, rose more than 1 basis point to 4.182%.

One basis point equals 0.01%, or 1/100th of 1%, and yields and prices move inversely to one another.

Monday's moves comes as investors await July's FOMC meeting minutes, due Wednesday, for further insights into the Federal Reserve's latest monetary policy decisions and potential future rates trajectory.

Bond yields rose during Friday's session after retail sales fell by a surprise 0.6% last month, which came after a flat producer price index print month-on-month in July.

The Fed voted 9-3 to hold rates steady at between 3.50% and 3.75% for the fifth consecutive meeting on July 29. The three dissenting committee members — Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas — instead called for a 25 basis point hike.