×

US Treasury yields vary as investors grow concerned over tax reform timeline

  • U.S. President Donald Trump is in the Philippines as part of his ongoing trip in Asia.

U.S. government debt yields varied on Monday, as investors grew worried the GOP tax plan may not be finalized before year's end.

The yield on the benchmark 10-year Treasury note sat lower at around 2.398 percent at 1:58 p.m. ET, while the yield on the 30-year Treasury bond was down at 2.861 percent. Bond yields move inversely to prices.

Wall Street has grown more skeptical on Republican effort to overhaul the tax code and introduce new tax cuts, a critical issue for party leaders and President Donald Trump.

Symbol
Yield
 
Change
%Change
US 3-MO
---
US 1-YR
---
US 2-YR
---
US 5-YR
---
US 10-YR
---
US 30-YR
---

But there are are also worries a corporate tax cut — a key component of the plan — could be delayed until 2019. The concerns have festered ever since the Senate unveiled its own tax reform bill, which seeks to stall the cut at least another year; the House bill would slash the corporate rate immediately.

The House is set to vote on its bill later in the week.

On the data front, the monthly treasury statement is due to be released at 2 p.m. ET.

In the political sphere, U.S. President Donald Trump is in the Philippines as part of his ongoing trip in Asia.

On Monday, Trump told reporters that he'd made "some very big steps with respect to trade," adding that the White House would deliver a statement on North Korea and trade on Wednesday, according to Reuters.