U.S. government debt prices fell today as investors monitored rising cases of Covid-19 and polls ahead of the U.S. election. The yield on the benchmark ten year Treasury note rose above 1% to trade at 0.6904%.
The yield on the 30-year Treasury bond increased by about 78 basis points to trade at 1.4375%. Yields move inversely to prices. The latest opinion polls suggest that Joe Biden is still the most likely winner in the upcoming presidential vote, but his lead is tightening.
Traders are likely to follow speeches by the St. Louis Fed President James Bullard at 10 a.m. ET, Atlanta Fed President Raphael Bostic at 12 p.m. ET, and Minneapolis Fed President Neel Kashkari at 2 p.m. ET. On the data front, there will be current account balance numbers at 8:30 a.m. ET, followed by consumer sentiment figures at 10 a.m. ET.