Economics
First Negative U.S. Yields Get Closer Amid Virus Fallout Fears
- Goldman expects 100 basis points of easing in first half
- 10- and 30-year Treasury yields hit record lows on Monday
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The swirl of fresh coronavirus cases and growing risks to the global economy have some seasoned market strategists warning that U.S. growth could come to a halt this year and some Treasury yields may drop below zero for the first time.
The warnings come as a rout in equities and climbing expectations for rate cuts as soon as this week drove long-term Treasury yields to unprecedented lows. Over the weekend, a gauge of Chinese manufacturing plunged to historic lows amid a surge in global virus cases and fatalities -- including the first in the U.S.