Treasury yields fell on Thursday after the U.K. and the European Union agreed on new Brexit trading arrangements.
The yield on the benchmark 10-year Treasury note fell to 0.948%, while the yield on the 30-year Treasury bond traded lower at 1.689%. Bond yields move inversely to prices.
Negotiators from Britain and the European Union reached a free trade agreement on Thursday after months of political wrangling over key sticking points such as fisheries.
Stateside, President Donald Trump vetoed a sweeping defense bill Wednesday, breaking with the Republican-led Senate. The move came after he threatened not to sign Congress’ $900 billion Covid relief package, calling it an unsuitable “disgrace.”
House Republicans on Thursday blocked Democrats’ attempt to pass $2,000 direct payments as the fate of a coronavirus relief package passed by Congress hangs in the balance.
There are no major economic data released scheduled for Thursday. Auctions for $30 billion in 4-week Treasury bills and $35 billion in 8-week bills are set to take place.
Britain and the European Union are said to be on the cusp of striking a free trade agreement on Thursday.