Yields on U.S. government bonds extended overnight gains after the White House said that President Biden will nominate Federal Reserve Chairman Jerome Powell for a second term leading the central bank.
In recent trading, the yield on the benchmark 10-year U.S. Treasury note was 1.594%, according to Tradeweb , compared with 1.581% just before the news about Mr. Powell’s reappointment and 1.535% Friday. The yield on the two-year note climbed to 0.568% from 0.539% earlier in the morning.
