On Monday U.S. Treasury yields climbed higher despite looming uncertainty around the U.S. election and a continued surge in cases of the coronavirus. The yield on the benchmark ten year Treasury note rose to 0.869% at 05:39 a.m. while the yield on the 30-year Treasury bond climbed to 1.665%. Yields move inversely to prices.
Treasury yields extended Friday’s rally, when the Federal Reserve announced measures to help small businesses get through the pandemic. The moves come ahead of the U.S. presidential election Tuesday. A national poll average puts Democratic candidate Joe Biden 7.2 points ahead of President Donald Trump.
The U.S. is continuing to see a surge in cases of Covid-19, with 81,493 confirmed infections reported on Sunday, according to data compiled by Johns Hopkins University. Traders will also be watching out for U.S. manufacturing data, as a key economic indicator, which comes out at 11:45 a.m. and 12 p.m. ET.