The 10-year Treasury yield has reached its highest point since July 2019, at 2.14%.

On Monday, the 10-year Treasury yield reached its highest level since July 2019, at 2.145%, as investors focused on the Russia-Ukraine war and the Federal Reserve's decision on interest rates.

The benchmark yield jumped 12 basis points to 2.142%, while the yield on the rose 11 basis points to 2.481%. Yields move inversely to prices, with 1 basis point equal to 0.01%.

Over the weekend, the fighting around Kyiv intensified as Russian forces bombed cities across Ukraine, resulting in the deaths of citizens who were unable to escape.

Peace talks between Russia and Ukraine resumed on Monday with the goal of establishing a strong cease-fire.

The Federal Reserve's two-day policy meeting, starting on Tuesday, is also being closely watched by investors in addition to the ongoing conflict in Ukraine.

On Wednesday, it is predicted that the Fed will increase its target funds rate by 0.25% from zero.

On Monday, Bob Parker, a member of the investment committee at Quilvest Wealth Management, stated on CNBC's "Squawk Box Europe" that central bankers worldwide must curb inflationary expectations.

Parker stated that central bankers have no choice but to tighten monetary policy in the short term, between now and the end of the third quarter.

He stated that the global economy slowing down is a significant issue, and he was surprised if the Fed reduced its economic growth forecast for the U.S. to 2%.