The 10-year Treasury yield ebbed lower on Tuesday morning, but remained higher than 1.5%, as investors watched for the final passage of the Democrats’ $1.9 trillion stimulus package in Congress.
The yield on the benchmark 10-year Treasury note fell to 1.54% at 4:10 a.m. ET. The yield on the 30-year Treasury bond dipped to 2.246%. Yields move inversely to prices.
The House of Representatives is aiming to approve the coronavirus relief spending packaged so that President Joe Biden can sign it before key unemployment programs expire on Sunday. Democratic leaders hope to get their stimulus package through the chamber as soon as Tuesday.
The bill extends a $300 per week boost to unemployment benefits through Sept. 6 and sends direct payments of up to $1,400 to most Americans.
Auctions will be held Tuesday for $30 billion of 42-day bills and $58 billion of 3-year notes.
— CNBC’s Jacob Pramuk contributed to this report.