The 10-year Treasury yield rose Tuesday after Senate Republicans passed their version of the White House’s gigantic tax-and-spending legislation, threatening to add at least $3 trillion to the federal deficit over the next decade.
The House now has the reins on Trump’s domestic policy package, where it faces an uncertain future amid questions about whether enough lawmakers will vote for it. Some GOP lawmakers have expressed continued concerns over the bill’s impact on the deficit, an aspect of the legislation that has sometimes spooked the bond market.
The benchmark yield advanced 2.5 basis points to 4.251%. The 30-year bond yield was little changed at 4.771%, while the 2-year note yield was up nearly 6 basis points to 3.779%.
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