Long-dated Treasury yields rose after President Donald Trump agreed to support a 3-month debt limit extension, attached to a relief bill to help Texas recover from Hurricane Harvey. This comes after Senate Minority Leader Chuck Schumer and House Democratic Leader Nancy Pelosi announced they would back such a deal earlier in the day. The 10-year Treasury note yield was up 2.6 basis points to 2.098%, while the 30-year Treasury bond yield [s:tmubmusd30y] rose 2.3 basis points to 2.712%. The shorter 2-year note [s:tmubmusd02y] barely budged after the reports. On the very front-end, the one-month Treasury bill showed the biggest move, falling by more than 10 basis points to 1.088%. An auction held on Tuesday for 4-week T-bills had attracted weak demand as investors avoided Treasurys expiring early next month, the date when the federal government would run up against its borrowing cap.
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