Skip to content
Subscriber Only

A Red-Hot Treasury Trade Starts to Unwind Every New York Morning

  • Bond rally resumes as tech-led stock rout hits U.S. equities
  • Futures block trades again prominent as long-end outperforms
U.S. Stocks Fluctuate As Investors Keep An Eye On Washington
Photographer: Michael Nagle/Bloomberg
Updated on

Like clockwork this week, as soon as the New York trading session has gotten underway, 30-year Treasuries have jumped.

Despite barely budging during the Asia and London trading sessions -- home to some of the bigger buyers of longer-dated Treasuries -- 30-year yields have dropped an average of five basis points each day this week between 7 a.m. and noon New York time. Those moves ramped up again on Thursday, accelerating as demand for haven assets pushed yields to their lowest in three weeks amid the worst rout for U.S. equities since June.