10-year Treasury yield softens after a surge in stock markets

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The 10-year U.S. Treasury yield started the week lower, after an overnight surge in U.S. stock futures.

passed President Joe Biden's $1.9 trillion stimulus packageFederal Reserve Governor Lael Brainard is due to make a speech on financial stability at the Institute of International Bankers 2021 annual Washington conference, at 9:05 a.m. ET on Monday.

February's final read for Markit's U.S. manufacturing purchasing managers' index is due out on Monday at 9:45 a.m. ET. Economists polled by Dow Jones are expecting a read of 58.5, the same as December's read of 58.5.Auctions will be held Monday for $54 billion of 13-week bills and $51 billion of 26-week bills.

 

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