US 10-year, 30-year treasury yields flash record lows amid coronavirus fears

US 10-year and 30-year treasury yields drop to the record low.
US equity futures down nearly 5.0% daily limit, gold above $1,700.
The increasing odds of the Fed’s rate cut, coronavirus headlines weigh on market’s risk-tone.

Following its day-start drop to the record low of 0.487%, the US 10-year treasury yields seesaw near 0.522%, down 20 basis points, amid the initial minutes of Tokyo open on Monday.

Additionally, the 30-year treasury yields slip below 1.0% mark to mark the fresh record low by the press time. Furthermore, the US equity futures also near the -5.0% daily limit.

While increasing fears of the coronavirus (COVID-19) weigh on the market’s risk-tone and push traders to the safe-havens, rising expectations for the Fed’s another rate cut in March seem to weigh on the US bond yields.

The Washington Post recently came out with the news that Some White House officials privately believe the number of US coronavirus cases will double or more in the next 48 hours. On Friday, US Vice President Mike Pence accepted that the nation witnesses a lack of testing kits while a major portion is quarantined.

Elsewhere, Morgan Stanley slashed its 2020 US GDP forecast to 1.5% from 1.8% while expecting another 0.50% rate cut during March followed by a 0.25% rate cut in April.

Traders will keep close eyes on the COVID-19 headlines for fresh impulse amid increasing global fears from the pandemic.

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.