Treasury Rally Was So Intense CME Halted 30-Year Futures Trading
- Contract that debuted in 2010 rose as much as 14.5 points
- Circuit breakers pause trading briefly after large price moves
A statue of Albert Gallatin, former U.S. Treasury secretary, stands outside the Treasury building in Washington, D.C.
Photographer: Andrew Harrer/BloombergThis article is for subscribers only.
The Treasuries rally Friday was so ferocious amid coronavirus fear that CME Group Inc. repeatedly halted futures on 30-year bonds.
The surge in Ultra U.S. Treasury Bond contracts four times triggered CME circuit breakers designed to ensure prices on its exchanges don’t spiral out of control. The futures, which debuted in 2010 and reference a Treasury security with at least 25 years left to maturity, rose as much as 14 1/2 points as the benchmark 30-year yield tumbled nearly 34 basis points to a record low 1.204%.