Treasury yields in focus amid Senate vote on Covid relief

The US government’s debt prices were lower on Tuesday morning as market participants closely watched a vote by the Senate on the increased economic relief from the coronavirus pandemic.

Around 05:40 ET, the yield on the standard 10-year treasury note was higher at 0.9431%, while the yield on the 30-year treasury bond was also higher at 1.6844%. Yields move inversely to prices.

This comes shortly after President Donald Trump on Sunday signed a $ 900 billion Covid-19 bill, which fends off the government strike and extends unemployment benefits to millions of Americans.

Trump initially suggested that he veto the bill, which gives $ 2,000 Covid-19 relief checks to Americans below a certain income level.

The House of Representatives on Monday adopted a measure to increase economic relief, sending the bill to the Senate where the future is less certain.

As for the data, the S&P CoreLogic Case-Shiller US National Home Price Index figures will be released around 9am ET. Data from Dallas Fed services will follow slightly later in the session.

The U.S. Treasury will auction $ 59 billion in 7-year notes, $ 34 billion in 52-week accounts, $ 30 billion in 119-day accounts and $ 30 billion in 42-day accounts.