U.S. Two-year Treasury yields, benchmark 10-year Treasury note were down after hitting historic highs. Global bond markets too have been under a relentless selloff in recent weeks as the US-Israeli war with Iran pushed up energy prices again, complicating the inflation outlook and further straining already stretched public finances.
Bond yields have been sliding since Thursday, reversing a rout in prices that earlier pushed the 10-year US yield to its highest level since 2002, as investors returned to the market, while Wall Street stocks edged higher with the decline in yields. The day's move in bonds follows the largest quarterly rise in 10-year yields since 1994.
