investors piled into govt bonds and at once recalibrated their expectations for activity expense raises based on the new Covid-19 variant first recognized in South Africa.
The yield on the 10-year U.S. Treasury bond fell as little as 1.505% early Friday, from 1.644% earlier than the Thanksgiving buying and selling break, one among its biggest intraday percentage-aspect drops considering the fact that the preliminary Covid-19 market panic in March 2020. Yields later traded for around 1.540%. Bond expenses upward thrust as yields fall.
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