10-year Treasury yield sees biggest weekly drop since December 2008
MarketWatch
10-year Treasury yield sees biggest weekly drop since December 2008
Published: March 6, 2020 at 4:03 p.m. ET
By Sunny Oh
U.S. Treasury yields kept up their relentless slide on Friday after another round of selling in global equity markets overnight on concerns the COVID-19 outbreak is upending life across the globe and the U.S., with major metropolitan areas now facing quarantines.
What are Treasurys doing?
The 10-year Treasury note yield TMUBMUSD10Y, 0.781% slumped 21.5 basis points to 0.709%, its biggest one-day drop since August 2011. The benchmark maturity marked its biggest weekly drop since December 2008, falling 41.8 basis points in the past five days.
The 2-year note rate TMUBMUSD02Y, 0.527% slid 9.9 basis points to 0.486%, its lowest since April 2015. The short-dated maturity slumped 39.2 basis points for the week. The 30-year bond yield TMUBMUSD30Y, 1.300% tumbled 35.4 basis points to 1.216%, and 44.2 basis points for the week, its biggest such drop since September 2011.
What’s driving Treasurys?
Worries that the coronavirus is slowing global economic activity has accelerated flows into government paper, as global stock-markets in China, Europe and the U.S. showed renewed weakness in Friday trading.
https://www.marketwatch.com/story/10-year-treasury-yield-extends-drop-below-1-on-global-stock-selloff-2020-03-06?mod=bnbh_mwarticle
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