U.S. Treasury yields rose on Friday morning with investors hoping that a stimulus deal in Washington could soon be reached.
The yield on the benchmark 10-year Treasury note rose to 0.8564% by 04:30 a.m. ET, while the yield on the 30-year Treasury bond rose to 1.6749%. Yields move inversely to prices.
Prices slipped after House Speaker Nancy Pelosi suggested Thursday that progress was being made in negotiations with the White House over an economic stimulus package and an expected a deal could be signed “pretty soon.”
Rising yields also followed the final U.S. presidential debate between President Donald Trump and Democratic candidate Joe Biden on Thursday evening. Click here to read about the highlights.
Investors will also have a eye on flash Markit PMI (purchasing managers’ index) readings, expected at 9:45 a.m. ET, for an indication as to the health of the country’s economic recovery.
No auctions by the U.S. Treasury are scheduled for Friday.
