Treasuries held a seven-day gain and global bond yields approached an eight-month low as tumbling stocks drove demand for the relative safety of government debt.

The yield on the Bloomberg Global Developed Sovereign Bond Index dropped to 0.957 percent at the end of last week, less than a basis point from the lowest level since April. The index has risen 1.1 percent this month, compared with a 6.3 percent loss for the MSCI All Country World Index of shares including reinvested dividends. The MSCI gauge slid 0.2 percent Monday.

“It’s just more flight to quality until we see stock markets stabilize,” said Ali Jalai, a bond trader at Bank of Nova Scotia in Singapore.

The U.S. 10-year note yield was little changed at 2.11 percent as of 7:02 a.m. in London, according to Bloomberg Bond Trader data. The price of the 2.25 percent security due November 2025 was 101 6/32. The yield dropped 19 basis points during the previous seven days.

Trading of Treasuries commenced in London after being closed in Japan for a holiday.

Stocks tumbled around the world last week as China weakened its currency, fueling concern officials felt a slowdown in economic growth was more severe than anticipated, prompting them to take emergency steps. China’s central bank kept the currency’s daily fixing stable Monday for the second day.

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