U.S. public debt prices were lower Wednesday morning after a U.S. Republican lawmaker moved to postpone the Senate vote on increasing pandemic relief controls.
Around 5:35 am ET, the yield on the 10-year Treasury benchmark was higher than 0.9514%, while the yield on the 30-year Treasury bond was also higher than 1.6932 %. Yields are reversed to prices.
Republican Senate Majority Leader Mitch McConnell on Tuesday blocked an attempt to unanimously pass a bill to increase direct payments from 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 cash deposits to $ 600,000.
Senate Republicans are wary of spending more on pandemic aid and are looking for a way to meet the demands of a president who described the funding of coronavirus funding and the funding bill as unfortunate and maintain its majority during eclipsed races. for the crisis.
As for the data, it is expected that advanced economic indicators will be released in November around 8:30 am ET. Data from the Chicago Purchasing Managers Index (PMI) for December and pending home sales for November will be released a little later in the session.
The U.S. Treasury will auction $ 25 billion in 105-day bills on Wednesday and $ 30 billion in 154-day bills.
– CNBC’s Jacob Pramuk contributed to this report.