Rates are shooting higher on inflation fears, 10-year yield its highest in nearly 4 years

The yield on the benchmark 10-year Treasury note surged to 2.716 percent on Monday, its highest since April 2014, as investors bet on an accelerating economy and inflation. A falling dollar this month has also helped drive yields higher as traders worry it may reduce the appetite for Treasurys, while boosting inflation. The 10-year yield ended December at 2.43 percent.MORE AT CNBC.COM