10 Year Treasury Trades Under 2%

Treasury yields continued to plummet Monday morning, as the global bloodbath in stocks fueled demand for safe assets like government bonds.

The yield on the 10-year Treasury, -4.21%  fell below 2% for the first time in nearly four months. It dropped 7.4 basis points Monday morning at 1.976%, its lowest point since April 28. The move comes on top of last week’s tumble of 14.4 basis points — a sizable move for Treasurys and the largest weekly decline since March 20.

More broadly, the 10-year yield has plunged more than 53 basis points since June 10, when it reached its highest point this year at 2.478%.

Treasury yields fall when prices rise and vice versa.

Among other maturities, the yield on the two-year note, -11.15% lost 6.5 basis points on Monday to 0.564% to its lowest point since July 9. Last week, it dropped 10 basis points, the largest weekly decline since June 19.

The 30-year yield, -2.26%   slid 7.4 basis points to 2.670%, its lowest level since April 27. The yield has plunged 57 basis points since June.

via MarketWatch

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.