investors cheer end of government shutdown

U.S. Treasury yields rose on Thursday as investors welcomed the end of the longest government shutdown in U.S. history.

10 year Treasury Its yield rose 4 basis points to 4.119%. The 2-year bond yield also increased by more than 2 basis points to 3.595%, while the 30-year bond yield increased by 5 basis points to 4.712%.

One basis point equals 0.01%, and yields and prices move in opposite directions.

Late Wednesday, President Donald Trump signed into law a funding bill to end a U.S. government shutdown that lasted a total of 43 days. The measure was approved by the House of Representatives on Wednesday night by a vote of 222 to 209.

“Republicans never wanted a shutdown,” Trump said. “People suffered a lot.” He noted that more than 1 million federal workers have been furloughed.

Major economic reports, including the consumer price index, producer price index, and nonfarm employment report, were postponed during the shutdown.

Those reports may never be released, White House press secretary Karoline Leavitt said Wednesday.

“Democrats may have permanently damaged the Federal Statistics system by possibly never releasing the October CPI and jobs reports,” Leavitt said. “All published economic data will be permanently distorted, leaving our policymakers flying blind at a critical time at the Fed.”