U.S. government debt prices were higher Tuesday morning following the Columbus Day holiday, with the focus remaining on the prospects for a new fiscal stimulus package and a flurry of corporate earnings.
Investor focus remains attuned to news of an impending coronavirus aid bill, with the White House pursuing a deal with Democratic lawmakers. Some market participants are now pinning their hopes on a sweeping Democratic victory on Nov. 3 in the hope of a greater package after the election.
The first batch of third-quarter corporate earnings is due Tuesday ahead of a busy week on Wall Street which will likely factor into investor sentiment.
On the data front, September’s inflation rates are due at 8:30 a.m. ET on Tuesday, while the IBP/TIPP economic optimism survey for October is released at 10 a.m.
Auctions will be held Tuesday for $54 billion of 13-week Treasury bills, $51 billion of 26-week bills and $30 billion each of 119-day and 43-day bills.
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