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U.S. bonds rally and global stocks tumble as ECB raises questions about Turkey contagion

MarketWatch

U.S. government bonds rallied on Friday, driving yields to their lowest levels in recent weeks as turmoil in Europe, sparked by questions about a knock-on effect from economic distress in Turkey, rattled investors and sent them fleeing to the perceived safety of sovereign paper. The 10-year Treasury note yield TMUBMUSD10Y, -2.23%  lost 3.6 basis points to 2.899%, a day after marking its largest one-session yield decline since July 3, based on values around 3 p.m. Eastern, according to Dow Jones Market Data. The 30-year bond yield TMUBMUSD30Y, -2.11%  shed 3.3 basis points to 3.048%, after its sharpest yield decline in a day since June 27. The two-year note yield TMUBMUSD02Y, -1.55% gave up 1.7