Ten-year U.S. Treasury yields continued to rise above 1% on Thursday morning, following an expected victory for Democrats from two Senate seats in Georgia’s second-round election .
The yield on the 10-year Treasury note rose to 1.063% at 3:40 am ET, while the yield on the 30-year Treasury bond jumped to 1.847%. Yields are reversed to prices.
Treasury yields increased gains over the previous session, and Congress confirmed the election of Joe Biden as president Thursday morning.
This comes a day after dramatic scenes of riots backing President Donald Trump stormed the Capitol building on Wednesday.
This came after Trump, during a rally earlier in the day in front of the White House, encouraged thousands of his supporters to march on the Capitol to protest the confirmation of Joe Biden as the next president. The counting of electoral votes was finally resumed.
Prior to the Capitol invasion, NBC News had projected Democrat Jon Ossoff defeating Republican David Perdue in one of the Senate seats in Georgia.
That followed the planned defeat of Republican Sen. Kelly Loeffler by Democrat Raphael Warnock for the other seat in the Georgia Senate.
These projected victories give Democrats a narrow majority in the Senate, with a 50-50 seat split and Vice President-elect Kamala Harris as the tiebreaker vote. That means Democrats will have unified control of Congress and the White House when Biden takes office.
Meanwhile, minutes of the most recent meeting of the U.S. Federal Reserve, released Wednesday, showed that the central bank would give notice to the public before reducing its bond-buying program.
On Thursday, November trade balance data, showing the difference between the value of U.S. exports and imports, is expected to occur at 8:30 a.m. ET. Unemployment claims must also be filed at this time.
December ISM manufacturing figures will be released at 10.00 ET.
Patrick Harker, president of the Federal Reserve Bank of Philadelphia, will deliver a speech at 9 a.m. (ET). The Fed Chairman of St. Louis, James Bullard, will have to speak at 12 p.m., followed by Chicago Fed Chairman Charles Evans at 1 p.m. (ET).
Auctions will be held on Thursday for 4-week bills of $ 30 billion and 8-week bills for $ 35 billion.
– CNBC’s Amanda Macias and Dan Mangan contributed to this report.