Ten-year US Treasury yields reached 1.6% on Monday morning after the Senate passed a $ 1.9 trillion coronavirus economic bailout and stimulus bill on Saturday.
Senator Stimulation bill passed A process that did not require Republican support and required all Democratic votes through budget adjustments.
Democrats aim to pass the bill on Tuesday and send it to the president Joe Biden Against his signature before the March 14 deadline to renew the unemployment assistance program.
Treasury yields have risen sharply in recent years amid expectations of economic recovery from the pandemic and concerns about rising inflation.
Ambrose Crofton, global market strategist at JP Morgan Asset Management, said in a comment on Friday that the recent surge in yields has caused “indigestion in the equity market.”
However, Mr. Crofton said investors should be relieved from a comment by Federal Reserve Chairman Jerome Powell last week: “If the market is turbulent, we will maintain good financial conditions and put the economy into full employment. Action will be taken to keep it on the road. “
Powell said at a Wall Street Journal meeting last weekVery careful“One of the lessons from runaway inflation in the 1960s and 1970s, but I believe the current situation is different.
The auction will take place on Monday and will win $ 54 billion of 13-week invoices and $ 51 billion of 26-week invoices.
— — Jacob Pramuk of CNBC contributed to this report.
Treasury yields rise after Senate passes stimulus
Source link Treasury yields rise after Senate passes stimulus