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The 10-year US Treasury yield remained above 1.1% on Monday morning, after President-elect Joe Biden on Friday promised new economic stimulus measures that would be “in the order of a trillion dollars.”
The benchmark 10-year T-bill yield rose to 1.11% at 3:45 a.m. ET, while the yield on the 30-year T-bill climbed to 1.866%. Yields move inversely with prices.
Treasury yields barely budged on Monday, as traders awaited more details on Biden’s stimulus package, which will follow in an official announcement on Thursday, six days before he takes office.
The need for further stimulus was underscored by December US employment data released on Friday. It showed that the non-farm payroll fell by 140,000 last month, compared to an expected increase of 50,000.
Raphael Bostic, the chairman of the Federal Reserve Bank of Atlanta, is scheduled to deliver a speech Monday at 12 p.m. ET.
The auctions will take place on Monday for $ 54 billion in 13-week bills, $ 51 billion in 26-week bills and $ 58 billion in 3-year bills.
– CNBC’s Yun Li contributed to this report.
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