The yield on the 10-year U.S. Treasury note is still hovering just below 5%, pushed in different directions Monday by energy and stock markets.

Treasury yields, which rise when bond prices fall, have been closely tracking oil prices, which were up again Monday. But Treasurys could also benefit from a modest flight to safety as tech stocks slide in response to mounting AI safety concerns.

In recent trading, the 10-year yield was 4.981%, according to Tradeweb, up from 4.974% Friday. The 10-year yield was choppy Friday but ultimately ended the day higher after slightly warmer-than-expected inflation data reinforced bets that the Federal Reserve will vote to raise interest rates at its meeting Wednesday.

The last time that the 10-year yield spent any length of time over 5% was in 2007. It briefly touched 5% during a single session in October 2023 but has not reached that level since.