In times of risk, investors turn to safe assets. And there’s no asset perceived as safer — while remaining liquid — than a U.S. Treasury bond.
This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribeTuesday, boosted by falling Treasury yields and easing oil prices. Small-cap stocks, in particular, rose more than the broader market.index soared 1.96% as travel stocks rebounded 3.9% from yesterday's sell-off.
Yields for U.S. Treasurys fell Tuesday as investors swarmed for safety amid the Israel-Hamas war. The 10-year Treasury yield dropped around 13 basis points to 4.657%, while the 2-year yield dipped below the 5% level to settle at 4.967%. As yields move inversely with prices, that means bond prices went up, driven up by demand., which climbed 1.14% for its fifth consecutive winning day, the first time it's done so since July 13. That gives the index a 0.
"I think that move lower in yields has supported equity markets broadly. It may also be bringing relief to markets that perhaps there is some sort of peak in this rapidly upward moving yield in the last few weeks," said Mona Mahajan, Edward Jones senior investment strategist.on the valuation of U.S. technology stocks.
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