Treasuries Rally as Deepening Slump in Stocks Boosts Haven Bid

Treasuries surged, driving yields down the most in months, as signs of weakness in the US job market helped deepen the retreat from stocks, commodities and cryptocurrencies and boost wagers on Federal Reserve policy easing.

Investors turned to US government debt as a haven as shares of software companies extended this week’s rout. In Treasuries, shorter maturities that are more sensitive to Fed policy expectations led the move. The two-year yield touched the lowest level in almost a month and saw its biggest tumble since October. Three-and five-year yields each slumped by 10 basis points.