Finance

Trump signs Covid relief bill

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Treasury yields climbed on Monday after President Donald Trump signed a $900 billion Covid-19 relief bill into law.

The 10-year Treasury yield, which moves opposite to prices, rose 2 basis points to 0.954%. The 30-year Treasury bond rate jumped 4 basis points to 1.700%.

Trump averted a government shutdown late Sunday, and extended unemployment benefits to millions of Americans. The signing came days after Trump suggested he would veto the legislation, demanding $2,000 direct payments to Americans, instead of $600.

“With the spending bill now law, I think we’re going to take another try at that 1% level in the 10 yr with us up 3 bps today to .96%,” Peter Boockvar, chief investment officer…



Source cnbc.com

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