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Breaking: U.S. 10-Year Yield Dips Below 0.7% as Russia Keeps OPEC Dangling

Published 03/06/2020, 05:02 AM
Updated 03/06/2020, 05:05 AM
© Reuters.

By Geoffrey Smith 

Investing.com -- U.S. Treasury bond yields continued their headlong plunge on Friday, with the 10-year benchmark yield falling below 0.7% for the first time ever.

That’s a drop of over 20 basis points just in the course of the European morning, on a day when a fresh wave of selling hit global risk assets.

The move came as Russia and OPEC argued over whether or not to implement a 1.5 million barrel-a-day cut in oil output to rebalance a market hit by collapsing demand. Further declines in the price of crude oil cut add a further disinflationary shock to a world economy that is already slowing as a result of the coronavirus outbreak.

By 5 AM ET (1000 AM ET), the 10-year Treasury yield had bounced back to 0.74%, while the 10-year German yield was at -0.73%, only 1 basis point off a new low that it hit earlier.

 

Latest comments

OPEC should not cut, but cancel the previous cut. And bankrupt once and for all Greedy frackers who are non-team players and responsible of this mess..
Those greedy frackers are what made US oil independant. If anything they should be bailed out
and what???????
Russia is cooking something for USA and the Dollar , it seems we are going to see a turning table in global economy
NEXT USD
What do you think?
usd/jpy toward 95 till opec + agree cut.
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