Thursday Asian morning US Treasures rallied across the curve: 10-year yield
fell 4bps to 5.14%; the policy-sensitive 2-year also eased; 30-year, which had
been heavily sold amid inflation and fiscal worries, declined as well. ITC
Markets senior analyst Kit Lowe said the market has reverted to a safe‑haven
pattern of buying sovereign bonds on equity sell‑offs. Hotter-than-expected US
Inflation data sparked the stock selloff and renewed demand for bonds. Asset
managers including PIMCO have recently advised increasing bond allocations after
sell‑offs.
