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Bond Report: Haven demand pulls down Treasury yields as China sparks global stock-market selloff

U.S. Treasury prices rose Tuesday, pulling down yields, on an apparent flight to safety as a renewed Chinese stock market rout sparked global equity weakness.

What are yields doing?

The yield on the 10-year Treasury note TMUBMUSD10Y, -2.10% fell 4.7 basis points to 3.141%, while the 2-year Treasury note yield TMUBMUSD02Y, -1.58% declined 2.9 basis points to 2.867% and the 30-year Treasury bond yield TMUBMUSD30Y, -1.87% fell 4.6 basis points to 3.335%. Yields and debt prices move in opposite directions.

What’s driving the market?

U.S. stock-index futures pointed to sharp losses for Wall Street, joining a global downturn sparked by heavy losses for Chinese shares, with the Shanghai Composite SHCOMP, -2.26% falling 2.3% after a two-day rebound fueled by verbal intervention by Beijing following last week’s equity weakness.

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