American bond prices fell on Monday morning after President Donald Trump signed a $ 900 billion Covid-19 relief bill.
The yield, which has an inverse relationship with the price, of the 10-year Treasury note rose to 0.9514%. In the 30-year Treasury bond, it rose to 1.6918%.
Trump avoided a government shutdown on Sunday night and extended unemployment benefits to millions of Americans. The signature came days after Trump suggested he would veto the legislation, requiring $ 2,000 in direct payments to Americans, instead of $ 600. U.S. stock futures rose slightly with the news.
“I am signing this bill to restore unemployment benefits, stop evictions, provide rental assistance, add money for PPP, return our airline workers to work, add substantially more money for vaccine distribution and more”, Trump said in a statement on Sunday afternoon.
– CNBC’s Yun Li contributed to this article.