A global government bond market rout deepened on November 14, briefly wiping out US bond yields' big declines in 2016, reflecting growing concerns that the US may be ushering into a new era of stronger growth and higher inflation following the US presidential election.

The yield on the benchmark 10-year treasury note touched 2.301% earlier Monday, the highest intra-day level since December 30, according to Tradeweb. That was above the 2.273% at the end of 2015. Yields rise as bond prices fall.