The U.S. Treasury yield of ten years continued its rise above the 1% point on Thursday morning, after a predicted victory for the Democrats of two Senate seats in the by-elections in Georgia.
The yield on the standard 10-year treasury note rose to 1.063% at 03:40 ET, while the yield on the 30-year treasury bond rose to 1.847%. Yields move inversely to prices.
Treasury is delivering proceeds from the previous session, and Congress on Thursday morning confirmed the election of Joe Biden as president.
It comes a day after dramatic scenes of rioters supporting President Donald Trump stormed the Capitol building on Wednesday.
That was after Trump during a rally outside the White House earlier in the day urged thousands of his supporters to march to the Capitol to protest the confirmation of Joe Biden as the next president. The counting of elections finally resumed.
Before the Capitol invasion, NBC News predicted that Democrat Jon Ossoff beat Republican David Perdue in one of Georgia’s Senate runoffs.
This follows the predicted defeat of Democrat Raphael Warnock of Republican Senator Kelly Loeffler for Georgia’s other Senate seat.
These projected victories give the Democrats a slim majority in the Senate, with a split of 50-50 seats and under-elected Vice President Kamala Harris as voting power. This means that the Democrats will have united control over Congress and the White House, as Biden assumes his office.
Meanwhile, the minutes of the US Federal Reserve’s recent meeting, released on Wednesday, showed that the central bank will give the public a great deal of notice before cutting back on its bond-buying program.
On Thursday, the trade balance data for November, which shows the difference between the value of US exports and imports, is expected at 08:30 ET. At this time, there must also be unemployed demands.
December’s ISM non-manufacturing figures will be announced at 10:00 ET.
Patrick Harker, president of the Federal Reserve Bank of Philadelphia, will give a speech at 9 p.m. ET. The president of St. Louis, James Bullard, will speak at 12:00, followed by Charles Fed, President of Chicago, at 13:00 ET.
Auctions are being held Thursday for $ 30 billion in four-week accounts and $ 35 billion in 8-week accounts.
– CNBC’s Amanda Macias and Dan Mangan contributed to this report.