Benchmark 10-year Treasury yield falls to nearly 3-year low as investors flee to safer assets
The U.S. 10-year Treasury yield, which influences mortgages and other loans, fell 10 basis points on Monday, hovering close to a nearly three-year low.
Financial markets tumbled as U.S.-China trade friction prompted a stampede into relative safe harbors, including bonds, gold and the Japanese yen. The panic is seen spreading to Wall Street, with futures signaling sharp losses in their benchmark indices. surged higher Monday morning, as global growth worries and an intensifying trade war between the world's two largest economies drove investors toward safe-haven assets.
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