US Treasury Yields Little Changed after Congress Passes Tax Bill

U.S. government debt yields were little changed on Thursday, as investors priced in the latest news coming from the U.S. economic sphere.

The yield on the benchmark 10-year Treasury note dropped to 2.486 percent, while the yield on the 30-year Treasury bond was lower at 2.84 percent. Bond yields move inversely to prices.

The yield curve continued to flatten, with the 3-year Treasury note yield approaching two percent.

A major obstacle surrounding overhauling the U.S. tax code was conquered after House Republicans voted to approve tax reform, consequently meaning that the legislation can be sent to President Donald

Trump's desk for a signature by Christmas.

This follows after Republicans had to fix the bill, as a result of violations concerning the Byrd rule.

The overhaul is anticipated to become law for next year, with the bill set to reduce corporation tax rates while temporarily trimming the tax burden for the majority of people.

Prime News are provided by InstaForex