U.S. Treasury yields were little changed on Wednesday after the Dow Jones stock index broke the 30,000-point mark in the previous session, as investors sought to take on more risk amid increasing political certainty and coronavirus vaccine developments.
The yield on the benchmark 10-year Treasury note dipped slightly to 0.875%, while the yield on the 30-year Treasury bond fell to 1.597%. Yields move inversely to prices.
First-time claims for unemployment benefits rose to 778,000 last week, the Labor Department said Thursday. Economists surveyed by Dow Jones were expecting the number to total 733,00
Treasury yields slipped on Wednesday after the Dow Jones Industrial Average breached 30,000 points for the first time on Tuesday.
Investors were showing an increased appetite for risk, by putting more money into the stock market, amid signs of more political clarity after the Trump administration accepted that President-elect Joe Biden’s transition into the White House must begin.
Biden has also been sharing picks for his Cabinet team, which included naming former Federal Reserve Chair Janet Yellen as his choice for Treasury Secretary and nominating Antony Blinken as his secretary of State.
Auctions will be held Wednesday for $30 billion of 4-week bills, $35 billion of 8-week bills, $25 billion of 105-day bills and $30 billion of 154-day bills.
