U.S. Treasury bond yields rose slightly Tuesday morning as investors watched the coronavirus stimulus move in Congress.
The yield on the benchmark 10-year Treasury note rose to 0.936% at 5:05 a.m. ET, while the yield on the 30-year Treasury note rose to 1.694%. The returns move inversely to the prices.
Government bond yields rose Tuesday as Congress rushed to agree on spending on pandemic aid before some funding expires on Saturday.
Republican and Democratic leaders said Monday that they intend to extend government funding for another week while lawmakers want to put together another coronavirus stimulus package.
The U.S. saw a record average of coronavirus cases of more than 196,200 infections in seven days, according to a CNBC analysis of Johns Hopkins University data on Monday. This means that if this trend continues, the average seven-day case number this week will be over 200,000.
The U.S. is also nearing record levels for the average number of seven deaths from Covid-19 in seven days.
The final third quarter figures on unit labor costs and productivity outside of agriculture will be released on Tuesday at 10:30 am (CET), while the weekly data on API crude oil change will be released at 6:30 pm (CET).
Auctions will be held Tuesday for 119-day bills valued at $ 30 billion, 42-day bills valued at $ 30 billion, and 3-year notes valued at $ 56 billion.
– CNBC’s Jacob Pramuk and Will Feuer contributed to this article.