U.S. Treasury yields rose on Thursday as investors welcomed the end of the longest government shutdown in U.S. history.
of 10 year treasury The yield rose 4 basis points to 4.119%. The two-year bond yield also rose more than two basis points to 3.595%, and the 30-year bond yield rose five basis points to 4.712%.
One basis point equals 0.01%, and yields and prices move in opposite directions.
Late Wednesday, President Donald Trump signed a funding bill to end the U.S. government shutdown, which lasted a total of 43 days. The bill passed the House on a 222-209 vote Wednesday night.
“Republicans never wanted a government shutdown,” President Trump said. “People have been badly hurt,” he said, noting that more than 1 million federal workers have been furloughed.
During the shutdown, key economic reports such as the consumer price index, producer price index, and nonfarm payrolls report were delayed.
White House press secretary Caroline Levitt said Wednesday that those reports may never be made public.
“Democrats may have caused permanent damage to the federal statistical system by ensuring that the October CPI and employment numbers will likely never be released,” Levitt said. “All published economic data will be permanently damaged, leaving Fed policymakers blindsided at a critical time.”
