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At around 7:00 a.m. ET, the benchmark 10-year T-bill yield, which moves inversely to price, was higher at around 1.1929%, while the yield on the 30-year T-bill was higher. raised to 1.9953%.
The Senate and House each passed a budget resolution on Friday, beginning the reconciliation process that would allow President Joe Biden’s $ 1.9 trillion bailout to pass through the Democratic-held Senate by simple majority. The package includes $ 1,400 stimulus checks, additional unemployment benefits, and funds for the Covid-19 vaccine and testing.
Treasury Secretary Janet Yellen said on Sunday that if Biden’s stimulus package passes, the United States could return to full employment by 2022.
“There is absolutely no reason why we are suffering from a long, slow recovery,” Yellen said in an interview with CNN’s “State of the Union”. “I would expect that if this package were passed we would return to full employment next year.”
The monthly employment report on Friday showed that the unemployment rate fell in January. The overall unemployment rate fell to 6.3% from 6.7% in January, according to the Labor Ministry, but some of the underlying figures were less encouraging.
There are no major economic data releases on Monday.
The US Treasury will auction $ 54 billion in 13-week bills and $ 51 billion in 26-week bills.
– CNBC’s Pippa Stevens contributed to this article.
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