U.S. Treasuries Rally Over Global Economy Fears

Treasury prices rose as fears over the state of the global economy and market volatility gave investors cause for concern. The rising demand caused yields on benchmark 10-year Treasury notes to fall to 1.989 percent on Thursday early morning as U.S. stock index futures and European markets tumbled, but remained above Wednesday lows. In early afternoon, yield bounced back to 2.174 percent.

Longer-term U.S. treasurys prices rose into positives with the 30-year bond briefly up to 16/32 in price late Thursday morning.

Investors scrambled on Wednesday for so-called “safe-haven” bonds as stock markets plunged across the board and weaker-than-expected data out of the U.S. increased expectations that the U.S. Federal Reserve could reassess when it raises interest rates. Yields on benchmark 10-year Treasury notes fell to 1.87 percent on Wednesday morning—the lowest intraday yield since May 2013—before bouncing back to 2 percent later on.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.