U.S. Treasury yields continued to climb on Tuesday morning, as traders eyed the possibility of further economic stimulus and the situation with U.S. politics.
The yield on the benchmark 10-year Treasury note rose to 1.156% at 4:10 a.m. ET, while the yield on the 30-year Treasury bond reached 1.888%. Yields move inversely to prices.
Treasury yields moved higher, following President-elect Joe Biden’s promise last week of further economic stimulus “in the trillions of dollars.” More details will follow in a formal announcement on Thursday.
House Democrats introduced an article of impeachment Monday against incumbent U.S. President Donald Trump for inciting a mob of his supporters who invaded the U.S. Capitol last week.
Raphael Bostic, president of the Federal Reserve Bank of Atlanta, is due to speak again on Tuesday, at 9:30 a.m. ET and 11 a.m. ET. Fed Governor Lael Brainard is expected to make a speech at 9:35 a.m. ET, along with Dallas Fed President Robert Kaplan at 11 a.m. ET and Cleveland Fed President Loretta Mester at 12 p.m. ET.
A January update for the IBD/TIPP economic optimism index, which measures Americans’ outlook on the economy, is due out at 10 a.m. ET, along with November JOLTs job openings data.
Weekly stock change figures for API crude oil is expected out at 4:30 p.m. ET.
Auctions will be held Tuesday for $30 billion of 119-day bills, $30 billion of 42-day bills and $38 billion of 9-year 10-month notes.
— CNBC’s Jacob Pramuk contributed to this report.