Treasury yields flat as investors assess the pace of economic recovery

Treasury yields held steady on Monday as investors monitored a rise in new coronavirus cases across the U.S..


The yield on the benchmark 10-year Treasury note was little changed at 0.692% and the yield on the 30-year bond fell slightly to 1.455%. Yields move inversely to prices.

More than 30,000 new Covid-19 cases were reported in the U.S. on Friday and Saturday, according to data compiled by Johns Hopkins University, the highest daily totals since May 1 as infections spiked in states across the South, West and Midwest.

The recent coronavirus uptick in some states led Apple to reclose some of its stores. Meanwhile, a trade group said cruise lines voluntarily suspended all trips until Sept. 15.

The World Health Organization (WHO) also reported a rise in global cases on Sunday of 183,020, taking the total cases around the world past 8.7 million as countries attempt to reopen their economies following months of lockdown measures.

On the data front, existing homes sales tumbled 9.7% in May from April to a seasonally adjusted annualized rate of 3.91 million units, according to the National Association of Realtors. Sales were down 26.6% annually, the largest annual decline since 1982, 

Auctions will be held Monday for $57 billion of 13-week Treasury bills and $54 billion of 26-week bills.