U.S. government debt prices were higher on Monday as investors monitored news of a potential vaccine against Covid-19.
At around 2:30 a.m. ET, the yield on the benchmark 10-year Treasury note fell by 0.18% to trade at 0.6658%. The yield on the 30-year Treasury bond also dropped by 8 basis points to 1.4142%. Yields move inversely to prices.
On Sunday, Pfizer’s CEO Albert Bourla said that a coronavirus vaccine could be distributed in the United States before the year-end. In addition, AstraZeneca has resumed its phase three trials over the weekend, after suspending them earlier in the week due to safety concerns.
There is no economic data scheduled for Monday.
In the meantime, the U.S. Treasury is due to auction $105 billion in 13 and 26-week bills.