Stocks were holding steady Monday as yields on long-term government bonds rose, while traders looked ahead to a busy week for central banks.
The Dow Jones Industrial Average gained 42 points or 0.1% at the open. The S&P 500 and Nasdaq Composite were both nearly unchanged.
The Federal Reserve will deliver its interest-rate decision Wednesday, followed by the Bank of England on Thursday and the Bank of Japan Friday. Investors widely expect the Fed to hold rates steady.
Still, the higher for longer rate environment combined with expectations for a sticky inflation has markets worried, leading to a run up in Treasury yields.
The return on a 10-year note was at 4.347%, while the 2-year yield was at 5.045%.