US treasury yields have fallen to their lowest level since last summer as concerns over Iraq and Ukraine spur a fresh flight to safety.
The 10-year treasury yield dropped to 2.4% in US trading yesterday, its lowest level since the 2.3% reached last June, and fell again overnight to 2.36%. That followed news that President Obama had authorised airstrikes against militants in Iraq, and continued tensions over Russian actions in Ukraine. Russia imposed a wide-ranging set of restrictions on food imports from selected Western nations yesterday in response to US and EU sanctions over the Ukraine crisis. Benchmark US treasury yields have confounded expectations this year, having been expected to rise from a starting level...
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