LONDON, March 25 (Reuters) - Yields on benchmark U.S. 10-year Treasury bonds rose back above three-month rates during European trade on Monday, following a rise in a key German business confidence index.
Germany’s Ifo economic institute said its business climate index rose to 99.6 from an upwardly revised 98.7 in the previous month. This beat a consensus forecast for a reading of 98.5.
U.S. 10-year Treasury yields were last up around 1 basis point at 2.46 percent and above yields on three-month bills, which were at 2.45 percent. The gap between the two turned negative on Friday for the first time since 2007 in a sign of recession risks ahead. (Reporting by Dhara Ranasinghe; editing by Sujata Rao)