U.S. treasury prices are declining in early Monday's trade as investors cheer the optimism of a stimulus before the elections.
House Speaker Nancy Pelosi (D-Calif.) has set a 48-hour deadline on stimulus negotiations after speaking to Treasury Secretary Steven Mnuchin on Saturday, reports CNBC.
"The 48 only relates to if we want to get it done before the election, which we do," said Pelosi.
"We have to freeze the design on some of these things — are we going with it or not and what is the language? I’m optimistic, because again we’ve been back and forth on all this," she added.
The negotiations around the stalled stimulus have caused market volatility in the last few weeks.
The yield on the benchmark 10-year Treasury note has risen 3.5 basis points to 0.779% and the yield on the 30-year Treasury bond is up 4.1 basis points to 1.57% at press time.
Investors will be watching Federal Reserve Chairman Jerome Powell’s comments on Monday at 8 a.m.
Treasury ETFs to watch on Monday: iShares 20+ Year Treasury Bond ETF TLT, SPDR Portfolio Long Term Treasury ETF SPTL, iShares 7-10 Year Treasury Bond ETF IEF and Vanguard Intermediate-Term Treasury ETF VGIT
Picture Courtesy: Wikimedia
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.