U.S. Treasury yields rebounded on Thursday morning from losses in the previous session, ahead of President-elect Joe Biden announcing more details of his economic stimulus plan later in the day.
The yield on the benchmark 10-year Treasury note rose 1 basis point to 1.106%, while the yield on the 30-year Treasury bond advanced slightly to 1.836%. Yields move inversely to prices.
President-elect Joe Biden is expected on Thursday evening to unveil a stimulus plan that will include a boost to the recent $600 direct payments, an extension of increased unemployment insurance and support for state and local governments. The stimulus could be as big as $2 trillion, CNN reported.
Yields were higher despite continued political turmoil in the U.S., after House members on Wednesday voted to impeach incumbent President Donald Trump for a second time for inciting the riot on the U.S. Capitol last week.
December U.S. export and import data is due out at 8:30 a.m. ET, along with jobless claims.
Raphael Bostic, president of the Federal Reserve Bank of Philadelphia, is expected to make a speech at 11 a.m. ET.
Fed Chair Jerome Powell is expected to speak at 12:30 p.m. ET, followed by Dallas Fed President Robert Kaplan at 1 p.m. ET.
