Global Treasury yields ease amid rising France’s fiscal, political concerns
US 10-year Treasury note yield holds around 5.25% on Friday, pulling back from multi-decade highs as mounting concerns over France’s fiscal and political stability spurred demand for safe-haven assets. Despite this slight retreat, US yields remained near levels not seen since 2002.
Global Treasury yields fell on Friday as France's fiscal and political uncertainties increased demand for safe-haven assets. Despite a slight pullback, US 10-year yields remained near multi-decade highs, reflecting ongoing Federal Reserve tightening expectations. European government bonds experienced significant volatility, with French 10-year yields hitting a 40-year high and Germany's yields easing from 17-year peaks.
The UK also saw a dip in 10-year gilt yields as investors balanced safe-haven demand against projected ECB rate hikes. Asian markets mirrored the global trend, with Japan's 10-year yields falling below 3.1%. The shift to a "risk-off" market saw investors favoring safe assets like bonds and currencies, while commodities, typically boosted in "risk-on" sentiment, underperformed.
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