10-year Treasury yield hits highest level in a year

"That opens up the 1.50% level," said John Briggs, head of strategy at NatWest Markets.

The 10-year benchmark is widely watched as it influences mortgages and other loans.

Treasury yields were higher as investors continued to watch for progress on President Joe Biden's proposed $1.9 trillion stimulus package in Congress, as well as the coronavirus vaccine rollout in the U.S.

February data from the New York Empire State manufacturing index is due out at 8:30 a.m.

December data for net U.S. Treasury international capital flows, as well as net purchases of U.S. Treasury bonds and notes, is expected to be published at 4 p.m.

— with reporting from CNBC's Yun Li and Patti Domm.

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