Bond Markets Shred History Books During Furious Fear Trade
- Yields blow through milestones as they’re halved in two weeks
- You only get 0.48% for parking money in Austria until 2117
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It’s hard to overstate just how wild bond markets have gotten amid the coronavirus scare, forcing traders to rethink what’s possible.
The 10-year U.S. Treasury yield has been cut in half in just two weeks, offering an all-time low rate of 0.66% when fear peaked Friday morning. A plunge in 30-year U.S. yields is helping Americans borrow to buy homes at the cheapest rates ever. Investors in Austria’s 100-year bond are getting only 0.48% for the right to park money until 2117.