Treasury yields fall as traders seek safety
TLT•U.S. Treasury yields fell as stock market jitters pushed investors toward government bonds. The 10-year yield dropped 6 basis points to 5.08%, while the 2-year yield fell 5 basis points to 4.78%.
1. Yields move lower
The benchmark 10-year Treasury yield fell 6 basis points to 5.08%, moving further from a 24-year peak of 5.365% hit earlier this month. The 2-year yield dropped 5 basis points to 4.78% as worries about technology stocks sent traders seeking safer parts of the market.
2. Global bond shifts
The safe-haven appeal of government bonds has recently been questioned because of high debt loads among major economies, including the United States. France’s 10-year bond yield rose above its U.S. equivalent for the first time since 2013. Nasdaq 100 futures fell 1.75%, weighed down by Tesla after it reported third-quarter earnings, while European stocks also fell; the Japanese yen and Swiss franc rallied.
