HONG KONG (Economic Information Agency) - As global stock market sell-offs trigger demand for safe-haven assets, U.S. Treasury securities across various maturities generally rose.
During Thursday's early Asian trading session, the benchmark 10-year Treasury yield fell 7 basis points to 5.11 percent. The interest-rate-sensitive 2-year yield also declined, and the 30-year Treasury yield moved lower as well, after the longer-dated bond had suffered severe selling pressure due to inflation and fiscal concerns.
Kit Lowe, Senior Analyst at ITC Markets, said: "The market has finally returned to the old playbook of seeking quality assets—buying Treasuries when stocks are being sold off."
U.S. Treasuries extended Wednesday's (14th) gains after better-than-expected U.S. inflation data triggered a stock market plunge, thereby boosting bond demand. Several fund managers, including Pimco, have recommended increasing bond allocations following the recent wave of sell-offs. (rc)
During Thursday's early Asian trading session, the benchmark 10-year Treasury yield fell 7 basis points to 5.11 percent. The interest-rate-sensitive 2-year yield also declined, and the 30-year Treasury yield moved lower as well, after the longer-dated bond had suffered severe selling pressure due to inflation and fiscal concerns.
Kit Lowe, Senior Analyst at ITC Markets, said: "The market has finally returned to the old playbook of seeking quality assets—buying Treasuries when stocks are being sold off."
U.S. Treasuries extended Wednesday's (14th) gains after better-than-expected U.S. inflation data triggered a stock market plunge, thereby boosting bond demand. Several fund managers, including Pimco, have recommended increasing bond allocations following the recent wave of sell-offs. (rc)
