U.S. Treasury yields flat on last trading day of 2020

Treasury yields were flat on Thursday, the last trading day of 2020, as investors assessed the status of a fresh coronavirus stimulus package.The yield on the benchmark 10-year Treasury note was at 0.9298% at roughly 2 a.m. ET, while the yield on the 30-year Treasury bond was also higher at 1.6710%. Yields move inversely to prices. Despite the slight rise, the 10-year yield had topped 0.95% during the previous session.Republican Senate Majority Leader Mitch McConnell on Tuesday blocked an attempt to unanimously pass a bill to increase direct payments in the year-end coronavirus relief package to $2,000.McConnell faces pressure to act after the House — with nearly all Democrats and a few dozen Republicans on board — voted Monday to increase the cash deposits to $2,000 from $600.Senate Republicans wary of spending more on pandemic aid are looking for a way to both meet the demands of a president who called the year-end coronavirus relief and funding bill a disgrace and hold on to their majority during races overshadowed by the crisis.On the data front, initial jobless claims are due at 8.30 a.m. ET on Thursday.— CNBC’s Sam Meredith and Jacob Pramuk contributed to this report.

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