US 10-yr treasury yield hit fresh one-year low

The flight to safety pushed the yield on the benchmark 10-yr Treasury note fell to a fresh one-year low of 1.682%.

The US government bonds have had a volatile overnight session on account of a sharp fall in Japan’s Nikkei. Japanese benchmark yield dropped to negative territory and that too added to the bearish pressure on the yields. European stocks fell as well on speculation of a fresh banking crisis.

Meanwhile, the 2-yr yield, which mimics the short-term rate hike bets, dropped to 0.65%; down 1.2 basis points on the day.