US debt prices were lower on Monday morning as investors monitored the state of US stimulus talks and the recent decline in relations between Washington and Beijing.
At around 2:50 AM ET, the yield on the benchmark 10-year Treasury note was higher at 0.5673% and the yield on the 30-year Treasury bond margin was up to 1.2431%. Yields move inversely to prices.
President Donald Trump on Saturday signed a series of executive orders on coronavirus relief, overturning Congress after lawmakers agreed on a fresh round of fiscal incentives to curb the impact of the coronavirus pandemic.
However, the executive orders have been widely criticized as ineffective and unconstitutional, and House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin on Sunday signaled a willingness to resume negotiations.
Chicago Federal Reserve President Charles Evans said in an interview with CBS News on Sunday that a fresh round of financial aid would be vital to enable workers to stay home and spread the pandemic. restrict. The U.S. has now reported more than 5 million confirmed cases of Covid-19, with more than 162,000 deaths, according to data compiled by Johns Hopkins University.
Investors are also keeping an eye on US-China relations in the wake of Trump’s executive order banning Chinese tech giants TikTok and WeChat. U.S. Secretary of Health Alex Azar on Monday expressed strong support for Taiwan, a move that is likely to shake Beijing even more.
On the data front, JOLT’s job recordings for June at 10 a.m. ET are expected ahead of consumer inflation expectations at 11 a.m. ET.
Auctions will be held for $ 54 billion of 13-week Treasury bills and $ 51 billion of 26-week bills.
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