U.S. Treasury yields climbed on Monday as the Covid-19 vaccine rollout began while lawmakers continued stimulus bill negotiations.
The yield on the benchmark 10-year Treasury note rose 4 basis points to 0.93%, while the yield on the 30-year Treasury bond gained 5 basis points to 1.67%. Yields move inversely to prices.
Treasury yields advanced after CDC director signed off Pfizer’s coronavirus vaccine over the weekend, allowing vaccinations to begin. The first deliveries of the vaccine in the U.S. are due to arrive Monday. Trucks containing the initial packages of the vaccine are leaving Pfizer’s facility in Michigan with delivery expected on Monday to sites across all 50 states.
Meanwhile, Congress appeared closed to agreeing to another round of U.S. stimulus spending. Reuters reported a bipartisan plan could be introduced in Congress as soon as Monday, but split into two parts in order to improve its chances of approval.
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.
Auctions will be held Monday for $54 billion of 13-week bills and $51 billion of 26-week bills.
