Authorities bond yields fall as buyers count on Brexit commerce

U.S. government debt prices rose Thursday in hopes that a Brexit trade deal will be reached between the UK and the European Union.

The yield on the benchmark 10-year Treasury note fell to 0.948%, while the yield on the 30-year government bond traded lower at 1.689%. Bond yields move inversely with prices.

Britain and the European Union are said to be close to signing a free trade agreement on Thursday. After months of political controversy, important sticking points such as fishing come about.

British Prime Minister Boris Johnson was due to speak to the President of the European Commission, Ursula von der Leyen, in London around 7 a.m. Johnson is expected to hold a press conference an hour later.

In the United States, President Donald Trump vetoed a comprehensive defense bill on Wednesday and broke with the Republican-led Senate. The move came after threatening not to sign the $ 900 billion Congressional Covid bailout package in what was labeled an inappropriate “disgrace”.

No major economic data has been released for Thursday. Auctions for 4-week treasury bills of $ 30 billion and 8-week bills of exchange for $ 35 billion are scheduled to take place.

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