A flight to quality has pushed yields on 10-year Treasuries below 4 per cent for the first time since Donald Trump won last year’s election, as investors look for havens from the market turmoil triggered by the US president’s tariff increases.
Ten-year US Treasury yields have fallen more than 0.36 percentage points to 3.88 per cent on Friday as the price of the debt has surged, putting them on track for their best week since August.
Treasuries have rallied amid a sell-off in US stocks and the dollar, which on Thursday both suffered their worst day in years, and their gains have eclipsed those in other market havens such as German government debt and gold this week.
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