Treasury yields fall with coronavirus shutdowns set to drag on
At around 3:10 a.m. ET, the yield on the benchmark 10-year Treasury note, which moves inversely to price, was lower at 0.6870% while the yield on the 30-year Treasury bond was down at 1.2634%.
President Donald Trump on Sunday extended nationwide social distancing guidelines until April 30, reversing previous claims that the U.S. open for business by Easter.
Global markets look set for another volatile week as confirmed cases of the virus worldwide surpass 723,000 worldwide as of the early hours of Monday, according to data compiled by Johns Hopkins University.
More than 143,000 cases have now been confirmed in the U.S., resulting in more than 2,500 deaths.
Meanwhile, Wall Street’s attention remains attuned to moves by central banks and governments, which are scrambling to find new monetary and fiscal measures in the hopes of shoring up economies.
On the data front, pending home sales for February are due at 8 a.m. ET.
Auctions will be held Monday for $51 billion of 13-week Treasury bills and $42 billion of 26-week bills.
