NEW YORK (AP) _ Bond prices slumped again Monday, adding to last week's losses, as inflation fears continue to weigh on investors' minds.

The price of the benchmark 10-year Treasury note fell 3/8 point, or $3.75 per $1,000 in face value. Its yield, which moves in the opposite direction, rose to 6.56 percent from 6.50 percent late Friday.

The 30-year Treasury bond fell 25/32 point to yield 6.24 percent, up from 6.17 percent late Friday, according to Bridge Telerate.

Traders continue to fret about the possibility the Federal Reserve will enact several more interest rate hikes this year to cool down the U.S. economy.

Rising interest rates and higher inflation both hurt investments with fixed returns, such as bonds.

In other trading Monday, short-term Treasury securities fell 1/16 point to 1/8 point, while intermediate maturities fell between 3/16 point and 3/8 point.

Yields on three-month Treasury bills were 6.15 percent as the discount rose 0.22 percentage point from Friday to 5.99 percent. Six-month yields were 6.43 percent, as the discount rose 0.13 percentage point to 6.15 percent. One-year yields were 6.31 percent as the discount rose by 0.08 percentage point to 6.00 percent.

Yields are the interest bonds pay by maturity, while the discount is the interest at which they are sold.

The federal funds rate, the interest on overnight loans between banks, rose to 6.00 percent from 5.94 percent late Friday.

In the tax-exempt market, the Bond Buyer index of 40 actively traded municipal bonds fell 1/4 to 92 9/16. The average yield to maturity rose to 6.18 percent from 6.16 percent.