The 10-year U.S. Treasury yield hit 1.6% on Monday morning, after the Senate passed a $1.9 trillion coronavirus economic relief and stimulus bill on Saturday.
The yield on the benchmark 10-year Treasury note climbed to 1.606% at 3:30 a.m. ET. The yield on the 30-year Treasury bond rose to 2.311%. Yields move inversely to prices.
Senators passed the stimulus bill through budget reconciliation, a process that required no Republican support but every Democratic vote.
The Democratic-held House aims to pass the bill on Tuesday, and send it to President Joe Biden for his signature before a March 14 deadline to renew unemployment aid programs.
Auctions will be held on Monday for $54 billion of 13-week bills and $51 billion of 26-week bills.
— CNBC’s Jacob Pramuk contributed to this report.
