Treasuries Rise as China's Stock Slide Drives Demand for Safety
- Some of China's largest brokerages disclose regulatory probes
- U.S. yields also drop on wagers of gradual Fed rate increases
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Treasuries rose, pushing 10-year yields to a three-week low, as a drop in Chinese equities drove demand for the relative safety of U.S. government debt.
Benchmark yields headed for a third weekly decline amid speculation U.S. policy makers will take a gradual approach to raising interest rates following a December liftoff. Chinese stocks tumbled the most since the depths of a rout in August as some of the nation’s largest brokerages disclosed regulatory probes. Bond markets in the U.S. will close at 2 p.m. New York time after the Thanksgiving holiday.