CNBC:
- The yield on the benchmark 10-year Treasury note jumped to 1.772% at 4:40 a.m. ET.
- The yield on the 30-year Treasury bond rose to 2.456%. Yields move inversely to prices.
- January’s S&P/Case-Shiller home price index is set to come out at 8 a.m. ET on Tuesday.
“The rich rule over the poor, and the borrower is slave to the lender.” Proverbs 22:7 NIV
The rise in yields comes a day ahead of President Joe Biden revealing details of his infrastructure plan. The recovery package will include up to $3 trillion in spending across a swathe of sectors in an effort to bolster the U.S. economy.
HSBC strategists said in a note published Monday that “stimulus and any infrastructure plan are likely to prove to be a sugar rush for the economy given the secular headwinds.” Read More
