Treasury Bonds Head for Biggest Weekly Gain Since 2008 Crisis
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Treasury 30-year bonds headed for their biggest weekly gains in almost three years as investors sought refuge in U.S. government debt on concern the global economy is on the brink of another recession.
Yields on benchmark 10-year notes fluctuated after dropping today to a record low amid speculation central banks will take coordinated measures to prevent a financial crisis. Bonds have rallied since the Federal Reserve said on Sept. 21 that it would buy longer-term debt to lower borrowing costs because there are significant risks to the economy.