BOND REPORT

Published: July 25, 2024 at 5:03 a.m. ET ShareResize

Treasury yields fell early Thursday as a global stock market pullback drove investors into sovereign debt and traders awaited U.S. GDP and jobs data.

What’s happening

• The yield on the 2-year Treasury BX:TMUBMUSD02Y tumbled by 8.9 basis points to 4.354%.
• The yield on the 10-year Treasury BX:TMUBMUSD10Y fell 5.9 basis points to 4.234%.
• The yield on the 30-year Treasury BX:TMUBMUSD30Y dipped 3.3 basis points to 4.515%.

What’s driving markets

Wall Street’s worst day since December 2022 — the S&P 500 index lost 2.3% on Wednesday — has rippled through global markets as investors lose appetite for risk and seek the perceived safety of government bonds.