Treasury yields decline as rising virus cases weigh on markets  President Biden’s stimulus plan is getting some pushback from Congressional Republicans who have rejected the $1.9T bill as too large and too soon after the last stimulus bill in December.  That news, coupled with vaccine shortages and rising cases left major US equity indices mixed

New administration remains in focus for financial markets As expected, within his first few days in office President Biden has already signed several executive orders targeting better virus containment and a faster vaccine rollout. Whether Biden will be able to convince Republicans to accept his broader $1.9 trillion package remains a serious question for markets.

Rates climb after President Biden’s inauguration Markets are optimistic that the economy will continue to recover and remain focused on the new administration’s initiatives.  Major equity indices ended the day flat, as both the S&P 500 and DJIA experienced less than a 0.1% change.  Treasury yields and swap rates rose on the day – the

Rates end the day little changed after President Joe Biden’s inauguration Joe Biden was sworn in earlier this afternoon as the 46th President of the United States.  Major equity indices rose in anticipation of the first executive actions of the new administration – the S&P 500 and DJIA closing 1.4% and 0.8% higher, respectively.  Treasury

Treasurys pare losses after Congressional Republicans push back on Janet Yellen’s calls for additional stimulus During her confirmation hearing to become Treasury secretary, former Fed Chair Janet Yellen encountered strong resistance to her support for additional coronavirus relief spending. Yellen added that she backs a stable and strong dollar and believes that “intentional targeting of

Equities decline as markets begin to question whether Congress will pass President-elect Biden’s stimulus proposal The $1.9 trillion American Rescue Plan includes additional funding for more direct payments, unemployment benefits, and vaccine distribution.  The size of the package has come under scrutiny from Republicans who continue to favor a smaller package, leaving markets to question

Treasury yields rise ahead of Biden’s stimulus briefing later this evening Biden will formally introduce a $1.9 trillion proposal called the American Rescue Plan later tonight.  The prospect of more extensive aid pushed stocks higher earlier in the day, but major equity indices pared their gains in the final hour – the S&P 500 and

Yields fall across the curve following strong Treasury auction  The $22B auction was met with strong demand for the second day in a row, pulling Treasury yields 1-6 basis points lower across the curve.  Major equity indices were little changed on the day as markets monitored Congress’s impeachment proceedings  – the S&P 500 rose 0.2%

Treasury yields turn lower for the first time in 2021 Yields fell mid-day after a government auction of $38 billion of the securities was met with higher-than-expected demand. The surprise helped Treasurys rally across the curve after nearly 5 consecutive sessions of weakness, the 10-year Treasury yield falling 2 basis points to close at 1.14%. Swap

Treasury yields climb to highest level despite pullback in risk assets, close at highest level since March 2020 Treasury yields and swap rates continued their march higher to start 2021- the 10-year Treasury yield climbing 3 basis points to 1.14% – the highest level since March of last year. As rates have risen, so has