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5/29/2019, 8:40 AM (Source: TeleTrader)
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F ZB+1.13%

165.7188
Chart for: F ZB 12/21

F ZN+0.52%

132.0000
Chart for: F ZN 12/21

F ZT+0.07%

109.5898
Chart for: F ZT 12/21

Treasuries rally further, yield curve inverts more

Market movements on Wednesday indicated a major shift to safety as stocks in Asia dropped and European indexes continued the trend before the bell. Gold and silver, the yen and the Swiss franc all advanced moderately in line with their status of relatively low risk, but United States government debt remained dominant. Treasuries climbed more after yesterday's jump and the yield curve inverted the most since the financial crisis one decade before, fueling bets on a recession this year in the world's biggest economy.

Yields on six-month bills surpassed levels with maturities almost 15 years down the line. A downturn may prompt the Federal Reserve to cut interest rates or even employ other monetary easing measures. Oil slipped.

The US two-year note yield dropped three points at 2:38 am ET to 2.085%. The 10-year rate fell 3.2 points to 2.233%. Earlier it touched 2.227% for the first time on a closing basis since September 25, 2017. The yield on the 30-year bonds pulled back 3.2 points to 2.673%. Corresponding futures rallied 0.07%, 0.22% and a whopping 0.45%. Yields and prices of debt securities move in different directions.

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