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U.S. Treasury yields flat on last trading day of 2020

Treasury yields were flat on Thursday, the last trading day of 2020, as investors assessed the status of a fresh coronavirus stimulus package.

The yield on the benchmark 10-year Treasury note was at 0.9298% at roughly 2 a.m. ET, while the yield on the 30-year Treasury bond was also higher at 1.6710%. Yields move inversely to prices. Despite the slight rise, the 10-year yield had topped 0.95% during the previous session.

Republican Senate Majority Leader Mitch McConnell on Tuesday blocked an attempt to unanimously pass a bill to increase direct payments in the year-end coronavirus relief package to $2,000.

McConnell faces pressure to act after the House — with nearly all Democrats and a few dozen Republicans on board — voted Monday to increase the cash deposits to $2,000 from $600.

Senate Republicans wary of spending more on pandemic aid are looking for a way to both meet the demands of a president who called the year-end coronavirus relief and funding bill a disgrace and hold on to their majority during races overshadowed by the crisis.

On the data front, initial jobless claims are due at 8.30 a.m. ET on Thursday.

— CNBC’s Sam Meredith and Jacob Pramuk contributed to this report.

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