U.S. Treasury yields continue to move lower from their recent highs.
The yield on the benchmark 10-year Treasury note fell to 1.564% in pre-market trading on Monday (April 19). The yield on the 30-year Treasury bond dipped to 2.253%. Yields move inversely to prices.
In terms of the COVID-19 pandemic, White House Chief Medical Advisor Dr. Anthony Fauci said that he expects the U.S. will resume administration of the Johnson & Johnson (NYSE:JNJ) vaccine. The Food and Drug Administration asked states last week to temporarily halt using the single-dose vaccine after six women developed a rare blood-clotting disorder after taking the vaccine.
Auctions are due to be held for $57 billion U.S. of 13-week bills and $54 billion U.S. of 26-week bills. There are no major economic data releases due out of the U.S. on Monday.
The 10-year U.S. Treasury yield posted its largest weekly decline in 10 months between April 12 and 16. The decline over the past week came despite strong economic data that showed a recovering labour market and robust retail spending by consumers in the United States.
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