U.S. bond prices fell Monday morning after President Donald Trump signed a $ 900 billion Covid-19 relief bill.
The yield, which is inversely related to the price, of the 10-year Treasury note rose to 0.9514%. While in the 30-year Treasury bond, it rose to 1.6918%.
Trump avoided closing the government on Sunday afternoon and extended unemployment benefits to millions of Americans. The signing came days after Trump suggested he would veto the legislation, demanding $ 2,000 direct from the Americans, instead of $ 600. US stock futures rose slightly in the news.
“I am signing this bill to restore unemployment benefits, stop evictions, provide rental assistance, add money for PPP, get our airline workers back to work, add substantially more money for the distribution of vaccines and more, “Trump said in a statement Sunday evening.
—Yun Li from CNBC contributed to this article.