10-year Treasury yield hits all-time low of 0.7041% as coronavirus rocks markets

At around 4:45 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, touched an all-time low of 0.7041%. The yield on the 30-year Treasury bond notched a record low 1.2903%. Wall Street suffered another rout on Thursday as disruptions to businesses around the world on the back of the coronavirus outbreak became more apparent, heightening fears of a global economic slowdown.

Latest figures from the World Health Organization (WHO) indicate at least 95,270 cases of the virus worldwide and at least 3,280 deaths. Stateside, San Francisco health officials announced the first two cases of COVID-19 in the city, but said they were unable to determine the source of the infections and raised concerns that it was “spreading in the community.”

Facebook told employees in the Bay Area to stay home and cancel any trips, while Gap shut down its New York City headquarters after an employee tested positive. Markets will also have an eye on nonfarm payrolls and a slew of other employment data due at 8:30 a.m. ET on Friday, along with balance of trade and import/export figures. There are no Treasury auctions scheduled for Friday.

10-year Treasury yield hits all-time low of 0.7041% as coronavirus rocks markets, CNBC, Mar 6