US Treasury Prices gain as plummeting stocks boost safety buying

New York (Mar 21)  US Treasury yields fell to three-week lows on Tuesday as stock markets tumbled, raising demand for low-risk U.S. government debt.

Stocks dropped with the S&P 500 financial sector losing 1.7 percent, on track for its largest daily percent loss since Jan.
17.  “Stocks are down, and bonds are reacting to that,” said Lou Brien, a market strategist at DRW Trading in Chicago.

The U.S. dollar also tumbled against the euro and Japanese yen.

Benchmark 10-year U.S. Treasuries were last up 10/32 in price to yield 2.44 percent, the lowest yield since
March 1 and down from 2.50 percent earlier on Tuesday.

Source: Reuters