Long-dated US debt rises as Nvidia woes revive haven demand
The yield moves have been modest, but proved resilient to a recovery in oil prices
Long-dated US Treasuries experienced a slight rise in yields on Thursday (Nov 12) as trading resumed, driven by turmoil surrounding Nvidia and a recovery in oil prices. Although the yield moves were modest, they demonstrated resilience to the recovery in oil prices, suggesting some haven demand. US 30-year yields fell to 5.32 percent, while 10-year yields remained around 4.99 percent.
Nvidia's stock performance has been closely watched, as the company's chips are crucial for artificial intelligence development, and the prospect of a replacement for CEO Jensen Huang has caused investor uncertainty. Analysts argue that Nvidia's impact on technology shares has revived interest in safer assets, particularly US Treasuries, which have historically served as a haven during periods of stress.
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