9/21, 1:25 PM (Source: TeleTrader)
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US bond yields fall amid increasing pandemic fears

Yields on United States Treasuries, which move in the opposite direction compared to bond prices, dropped on Monday as investors turned to bonds as safehaven assets amid rising fears of a new rise in global COVID-19 infections. The move came as stocks on Wall Street plummeted in premarket trading as coronavirus cases in the US surged and tensions between Washington and Beijing continued to influence sentiment.

The return on the two-year note declined by 0.4 basis points to 0.135% at 7:19 am ET. Meanwhile, the 10-year Treasury yield fell 3.3 basis points to 0.661% at 7:16 am ET and the 30-year Treasury yield dropped 4.9 basis points to 1.403% at 7:20 am ET.

Their corresponding bond futures were 0.01%, 0.17% and 0.57% in the green, respectively.

Breaking the News / VP