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U.S. treasury yields fall as coronavirus concerns persist
CNBC reports that U.S. government debt prices changed course to climb on Tuesday as markets continue to rattle amid global coronavirus fears.
The yield on the benchmark 10-year Treasury note, which moves inversely to price, was down at 1.363% having hit its lowest intraday level in over three years on Monday. The yield on the 30-year Treasury bond was also lower at 1.822% but remained above the all-time lows notched on Monday.
A sharp rise in cases of the new coronavirus in Italy, South Korea and the Middle East sparked fears of a global pandemic which will slow the world economy, sending investors running for cover on Monday.
Markets remain attuned to coronavirus developments, with South Korea now reporting 60 new cases to bring the country's total to 893 infected, while China's National Health Commission reported 508 new confirmed cases and 71 new deaths as of Monday night.
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