Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

U.S. Treasury Yields Climb on Renewed Coronavirus Stimulus Talks

12/01/2020 | 01:57pm EST

By Sebastian Pellejero

U.S. government-bond yields climbed Tuesday following a renewed Congressional effort to send aid to businesses and municipalities hurt by the coronavirus pandemic.

The yield on the benchmark 10-year Treasury note recently traded around 0.916%, according to Tradeweb, up from 0.845% at Monday's close. That puts the yield on pace for its highest close since Nov. 10.

The 30-year Treasury bond yield followed a similar path, trading recently around 1.657%, up from 1.574% Monday.

Yields, which rise when bond prices fall, rose after a bipartisan group of U.S. lawmakers proposed a $908 billion relief bill that would fund measures through the end of March. House Speaker Nancy Pelosi (D., Calif.) and Treasury Secretary Steven Mnuchin planned to speak about relief efforts Tuesday afternoon.

Higher government spending tends to push up Treasury yields by boosting economic growth and inflation, making fixed payments from bonds less attractive to investors

Previous stimulus efforts had pegged potential packages at more than $1 trillion. In November, the Treasury Department dialed back its estimates for government borrowing through the end of the year.

Yields have climbed in recent sessions, boosted by hopes for a coronavirus vaccine, though they remain near historic lows. One factor suppressing a rebound is the Federal Reserve, which has committed to aiding the economy by holding borrowing costs low: keeping short-term interest rates near zero and buying up billions of dollars of bonds.

Adding to pressure on yields Tuesday, new manufacturing data from the Institute of Supply Management came in at 57.5 for November, below expectations from economists polled by The Wall Street Journal.

Write to Sebastian Pellejero at sebastian.pellejero@wsj.com

(END) Dow Jones Newswires

12-01-20 1356ET

Latest news "Economy & Forex"
10:23aIndia's budget aiming to revive economy with limited fiscal headroom
RE
10:19aOil firms as dollar slips, but demand worries persist
RE
10:19aWall Street rises on big-tech strength, shrugs off bleak data
RE
10:18aEXCLUSIVE : Samsung, Hyundai, Daewoo prepare for Petrobras oil platform tender -sources
RE
10:14aSamsung, Hyundai, Daewoo prepare for Petrobras oil platform tender -sources
RE
10:14aCENTRAL BANK OF KENYA : Addendum no. 1
PU
10:12aFor Biden, Iran Presents a Tough Road From Promise to Policy
DJ
10:10aBEA BUREAU OF ECONOMIC ANALYSIS : Effects of Selected Federal Pandemic Response Programs on Federal Government Receipts and Expenditures (XLS)
PU
10:07aCOVID-19 pummels U.S. economy in 2020; performance weakest in 74 years
RE
10:06aTSX recovers as materials, energy stocks gain
RE
Latest news "Economy & Forex"