U.S. Treasury yields rose Tuesday, ahead of the presidential election between President Donald Trump and Democrat candidate Joe Biden.
The yield on the benchmark 10-year Treasury note rose to 0.871% at 5:06 a.m. ET while the yield on the 30-year Treasury bond was up at 1.649%. Yields move inversely to prices.
Treasury yields moved upward, shrugging off uncertainty on Election Day. A national poll average put former Vice President Biden 6.7 points ahead of incumbent President Trump.
According to the U.S. Elections Project, a full day before the election, more than 94 million votes had already been cast. This exceeded or neared the total voting levels in the 2016 election.
In addition to election uncertainty, the U.S. continues to see a surge in coronavirus cases, with daily infections reaching 84,089 on Monday, according to data compiled by Johns Hopkins University.
Traders will also be watching out for data from the U.S. economic optimism index, as a measure of consumer confidence. Factory orders from September, another indicator of economic health, will also be released on Tuesday. Both sets of data are due out at 12 p.m. ET.
Auctions will be held on Tuesday for $34 billion worth of 52-week bills, $30 billion of 119-day bills and $30 billion of 42-day bills.
— CNBC’s Lauren Feiner contributed reporting to this story.
