U.S. Treasury Yields at Highest Level Since March

Treasury yields in the United States soared on Wednesday, on the back of an expected win by the Democrats in the Senate elections in Georgia, which will bring them the majority of the highest chamber in Congress, alongside the House of Representatives.

With the Democratic Party controlling Congress and the White House, after President Elect Joe Biden won the latest Presidential Elections, more government debt and stimulus measures are expected to take place.

The return on the 10-year Treasury bond rose by 8.6 basis points to 1.041%, its highest level since March 2020.

The 30-year bond yield gained 11.4 basis points to reach 1.819%.

Meanwhile, the two-year bond yield leveled up by 2.2 basis points up to 0.143%.