U.S. Treasury yields soared Monday morning as Robert Redfield, director of the Centers for Disease Control and Prevention, signed Pfizer’s corona virus vaccine over the weekend, allowing vaccinations to begin.
Benchmark 10-year Treasury yields rose 0.913% at 4 a.m. ET, while 30-year Treasury yields reached 1.648%. Yields move inversely to prices.
Treasury yields have improved since Redfield signed the Advisory Board on Immunization Procedures for the Use of the Pfizer-Bioentech Covit-19 Vaccine in 16-Year-Olds and Over, allowing vaccinations to begin in the United States on Monday.
It gave the U.S. Food and Drug Administration Friday emergency approval for the vaccine.
The United States has begun shipping doses of the Pfizer vaccine to hundreds of distribution centers across the country.
This comes as the United States continues to engage with increasing corona virus cases and deaths. According to data compiled by Johns Hopkins University, there are 16,256,754 corona virus infections and 299,177 deaths from the virus in the United States.
Meanwhile, Congress is within a stalemate in another round of US stimulus spending.
The auction will take place on Monday for $ 54 billion in 13-week bills and $ 51 billion in 26-week bills.