U.S. Treasury yields climbed on Monday morning, after Robert Redfield, the director of the Centers for Disease Control and Prevention signed off Pfizer’s coronavirus vaccine over the weekend, allowing vaccinations to begin.
The yield on the benchmark 10-year Treasury note rose to 0.913% at 4 a.m. ET, while the yield on the 30-year Treasury bond reached 1.648%. Yields move inversely to prices.
Treasury yields advanced after Redfield signed the Advisory Committee on Immunization Practices’ recommendation to use the Pfizer–BioNTech Covid-19 vaccine in people ages 16 or older, allowing inoculations to begin in the U.S. on Monday.
This followed the U.S. Food and Drug Administration granting an emergency authorization for the vaccine on Friday.
The U.S. has begun to ship doses of the Pfizer vaccine to the hundreds of distribution centers across the country.
This comes as the U.S. continues to grapple with rising coronavirus cases and deaths. The U.S. has recorded 16,256,754 coronavirus infections and 299,177 deaths from the virus, according to data compiled by Johns Hopkins University.
Meanwhile, Congress remains at an impasse over the terms of another round of U.S. stimulus spending.
Auctions will be held Monday for $54 billion of 13-week bills and $51 billion of 26-week bills.
