Treasury yields rose on Wednesday, the second last trading day of 2020, as investors reviewed the status of a new coronavirus stimulus package.
The return on the 10-year treasury note increased by 2 basis points to 0.9514%, while the return on the 30-year treasury bond was also higher at 1.6932%. Yields move inversely to prices.
Republican Senate Majority Leader Mitch McConnell on Tuesday blocked an attempt to unanimously pass a bill to increase direct payments in the coronavirus relief package for the year-end to $ 2,000.
McConnell is under pressure to act after the House – with nearly all Democrats and dozens of Republicans on board – voted Monday to increase cash deposits from $ 600 to $ 2,000.
Senate Republicans are wary of spending more on pandemic aid, looking for a way to meet both demands of a president who calls coronavirus relief and funding bill a disgrace and holds on to their majority during races which is overshadowed by the crisis.
As for the data, pre-economic indicators for November will be published around 08:30 ET. Chicago Purchasing Managers’ Index (PMI) data for December and pending home sales for November will both be announced later in the session.
The U.S. Treasury will auction $ 25 billion on 105-day accounts and $ 30 billion on 154-day accounts on Wednesday.
CNBC’s Jacob Pramuk contributed to this report.