Treasuries, Haven Assets Rally as Putin Moves on Eastern Ukraine
- Dollar strengthens with yen while U.S. stock futures slide
- Demand from Japan may be contributing to gains in Treasuries
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Treasuries rallied to lead gains in developed-market bonds as escalating geopolitical risks overshadowed concern about aggressive Federal Reserve interest-rate hikes.
U.S. 10-year yields dropped as much as 13 basis points to 1.86% after Russian forces attacked cities across Ukraine with President Vladimir Putin ordering an operation, which he said was aimed at demilitarizing the country. Gold gained, U.S. equity index futures slumped more than 2% and the yen and dollar strengthened.