10-year Treasury yield rises to 1% for the first time since March amid Georgia runoff elections

The 10-year Treasury yield hit 1% for the first time since March in overnight trading Tuesday amid the Senate runoff races in Georgia.

The benchmark rate breached the key psychological level as both Senate runoff elections were still too close to call, according to NBC News. The yield on the 30-year Treasury bond also traded higher. Yields move inversely to prices.