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Treasury yields in focus amid Senate vote on Covid relief


Treasury yields rose on Tuesday as market participants closely monitored a Senate vote on increased economic relief from the coronavirus pandemic.The yield on the benchmark 10-year Treasury note was higher at 0.9431%, while the yield on the 30-year Treasury bond was also higher at 1.6844%. Yields move inversely to prices.It comes shortly after President Donald Trump signed a $900 billion Covid-19 relief bill into law on Sunday, averting a government shutdown and extending unemployment benefits to millions of Americans.Trump had initially suggested he would veto the bill, which would see $2,000 Covid-19 relief checks given to Americans under a certain income level.The House of Representatives on Monday passed a measure to increase economic relief, sending the bill to the Senate where its future is less certain.On the data front, U.S. home prices rose in October by the most in more than six years, according to the S&P CoreLogic Case-Shiller 20-city home price index.The U.S. Treasury will auction $59 billion of 7-year notes, $34 billion of 52-week bills, $30 billion of 119-day bills and $30 billion of 42-day bills.

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