Treasury Secretary Bessent is back in Washington and made his scheduled testimony appointment on Capitol Hill. In addition to speaking about the China deal, he adds on the economy, that:

• Capital investments will increase once tax and spending bill is enacted.
• 24-hour wind is the incorrect way to view the bond market. Notes that the 10 year yields are down this year.

The US Treasury will auction off 10 year notes at 1 PM ET. The current yield is at 4.442%, -3.2 basis points. By the way, the end of year level was at 4.573%

Just ahead is a interview with commerce Sec. Howard Lutnick on CNBC

This article was written by Greg Michalowski at www.forexlive.com.