: Flight-to-safety trade pushes 2-year Treasury yield below 4.7%, 10-year rate down to 3.76%


Treasury yields plunged across the board Friday morning, as the flight-to-safety trade continued on concerns about financial-sector contagion after Silicon Valley Bank’s SIVB, -60.41% stock fell again in pre-market trading. The policy-sensitive 2-year Treasury yield dropped 22 basis points to 4.67%, while the 10-year rate fell 15 basis points to 3.76%. Though February’s jobs gains came above expectations at 311,000, analysts said the market was more focused on mild wage growth and the slight uptick in unemployment.

This article was originally published by Marketwatch.com. Read the original article here.

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