Stocks have closed higher and bonds fell sharply as investors reacted to a deal in Washington to extend tax cuts for two years.
The compromise reached by President Barack Obama and Congressional Republicans is expected to boost economic growth but also increase the budget deficit.
The yield on the 10-year Treasury rose to 3.24% on Wednesday, the highest level since June.
According to preliminary calculations, the Dow Jones industrial average is up 13, or 0.1%, to 11,372.
The S&P 500 is up 5, or 0.4%, to 1,228. The Nasdaq composite index is up 11, or 0.4%, to 2,609.
Two shares fell for every one that rose on the New York Stock Exchange. Trading volume came to 1.1 billion shares.
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