Bonds: Treasury yields edge lower with stimulus and earnings in focus

 

Elliot Smith

2 minutes - Source: CNBC

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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.

At around 4:15 a.m. ET, the yield on the benchmark 10-year Treasury note was lower at 0.7521% and the yield on the 30-year Treasury bond was down at 1.5428%. Yields move inversely to prices.

Treasurys

TICKER	COMPANY	YIELD	CHANGE	%CHANGE
US3M	U.S. 3 Month Treasury	0.101	0.00	0.00
US1Y	U.S. 1 Year Treasury	0.134	0.00	0.00
US2Y	U.S. 2 Year Treasury	0.151	-0.002	0.00
US5Y	U.S. 5 Year Treasury	0.326	-0.01	0.00
US10Y	U.S. 10 Year Treasury	0.76	-0.015	0.00
US30Y	U.S. 30 Year Treasury	1.553	-0.021	0.00

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.

JPMorgan Chase, Citigroup and Delta Air Lines are all due to report Tuesday. Third-quarter results are expected to fall sharply, but traders are hoping for positive surprises.

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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