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Rally in U.S. Treasurys picks up steam as stocks slump

Sunny Oh

Treasury prices extended their rise during trading on Thursday as investors rotated out of risk assets into the perceived safety of U.S. government paper. The 10-year Treasury note yield fell 9.2 basis points to 3.135%, while the 2-year note yield was down 4.1 basis points to 2.840%. The 30-year bond yield slipped 9 basis points to 3.311%, according to Tradeweb data. Bond prices move in the opposite direction of yields. U.S. Treasurys have served as a port of call during market turmoil, though that relationship was challenged earlier this week when both prices for bonds and stocks fell together.