investors piled into government bonds and instantly recalibrated their expectations for activity rate raises based on the brand new Covid-19 variant first identified in South Africa.
The yield on the ten-12 months U.S. Treasury bond fell as low as 1.505% early Friday, from 1.644% earlier than the Thanksgiving buying and selling break, one in all its biggest intraday percent-element drops considering that the initial Covid-19 market panic in March 2020. Yields later traded for round 1.540%. Bond fees rise as yields fall.
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