Treasuries Rally as Japan Yields Extend Record Low on Safety Bid
- U.S. debt supported as China, Japan have weaker economic data
- Japan 10-year yield declines to as low as minus 0.1%
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Treasuries gained with Japanese bonds, whose 10-year yields extended their push below zero, as stock-market declines drove demand for the relative safety of sovereign debt.
The world’s two biggest bond markets advanced after official data showed Chinese exports tumbled and Japan’s economy contracted, sending stocks in the region lower. The move marked a revival of the rush to government securities in January and February as shares around the world tumbled. Yields on Japan’s 30-year sovereign debt plunged 22 basis points, falling to 0.475 percent after earlier touching a record low of 0.468 percent.