US government debt prices were lower Tuesday morning after market participants closely watched a vote in the Senate on more economic relief from the coronavirus pandemic.
At around 5:40 a.m. ET, the yield on the 0.9431% 10-year government bond was higher, while the 30-year government bond yield was also higher at 1.6844%. Revenues move inversely with prices.
It comes shortly after President Donald Trump signed a $ 900 billion Covid-19 bill into law on Sunday, preventing a government shutdown and extending unemployment benefits to millions of Americans.
Trump had initially suggested that he veto the bill, giving $ 2,000 Covid-19 checks to Americans below a certain income level.
On Monday, the Lower House passed a measure to increase economic emergency aid and sent the bill to the Upper House, where the future is less certain.
Data-wise, the S&P CoreLogic Case-Shiller US National Home Price Index numbers will be released around 9:00 a.m. ET. The data from the Dallas Fed services will follow a little later in the session.
The U.S. Treasury will auction $ 59 billion in 7-year notes, $ 34 billion in 52-week bills, $ 30 billion in 119-day bills, and $ 30 billion in 42-day bills.