U.S. bond prices fell on Monday morning after President Donald Trump signed a $900 billion Covid-19 relief bill into law.
The yield, which has an inverse relationship to the price, on the 10-year Treasury note rose to 0.9514%. While on the 30-year Treasury bond it rose to 1.6918%.
Trump averted a government shutdown late Sunday, and extended unemployment benefits to millions of Americans. The signing came days after Trump suggested he would veto the legislation, demanding $2,000 direct payments to Americans, instead of $600. Stock futures in the U.S. rose slightly on the news.
“I am signing this bill to restore unemployment benefits, stop evictions, provide rental assistance, add money for PPP, return our airline workers back to work, add substantially more money for vaccine distribution, and much more,” Trump said in a statement Sunday evening.
—CNBC’s Yun Li contributed to this article.