Frantic buying of Treasuries sees yield curve inside 1% for first time
Markets are pricing for Federal Reserve to cut policy rates to 0 per cent in coming months
Tue, Mar 10, 2020 - 5:50 AM
The latest leg of the blistering bond rally was fuelled by an all-out price war among the world's largest crude producers. Risk assets plunged with S&P futures dropping 5 per cent to hit circuit breakers.
TREASURY yields tumbled, with the entire curve trading below 1 per cent for the first time in history. Markets are now pricing for the Federal Reserve to cut policy rates to 0 per cent in the coming months.
Panic ensued on Monday, with the latest leg of the blistering...