Sovereign bonds are emphatically demonstrating their appeal as a last refuge for investors spooked by another global crisis, this time sparked by the economic fallout of the coronavirus.
Government debt racked up further historic milestones on Friday, with 30-year U.S. yields set for the biggest slide since 2009 and China’s 10-year rates falling to the lowest since the country was battling deflation in 2002. German yields sank to a record and the rate on short-dated U.K. debt neared 0% as the market braces for more stimulus from central banks.
