11/26/2021, 3:49 PM (Source: TeleTrader)
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Treasury yields drop on new variant news

United States Treasury yields plunged on Friday after a new variant of the coronavirus resulted in announcements of several bans on travel to and from southern Africa. Travel restrictions caused fears about the global economic prospects and subsequently led to global selloffs in stocks, oil, as well as cryptocurrencies, with investors seemingly opting to buy more bonds, which are seen as safe-haven assets in periods of market volatility and which move in the opposite direction to yields.

The yield on the benchmark 10-year Treasury note decreased by 12.2 basis points to 1.519% at 9:46 am ET, after landing at as low as 1.506% earlier in the day. The return on the two-year note fell 11.3 basis points to 0.528% a minute later, while the yield on the 30-year bond dropped 9.3 basis points to 1.879%.

The two-year note futures increased 0.23%, the 10-year note futures were up 0.87% and the 30-year bond futures jumped 1.38% at 9:40 am ET.

Baha Breaking the News (BBN) / MS