US Treasury Prices Rise... Preference for Safe Assets Amid Media Website Access Issues

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Following the outage of major US and UK media outlets as well as websites like Reddit and Amazon, US Treasury bonds have shown strength. This is interpreted as a safe-haven demand due to concerns over potential hacking.

According to Bloomberg News, on the morning of the 8th (local time), the yield on the 10-year US Treasury note fell by 0.03 percentage points to 1.54%, marking the lowest level in over a month.

Not only US Treasuries but also German and UK government bonds are strengthening. A decline in bond yields indicates a rise in bond prices.

The US Treasury yield showed no change compared to the previous day until 5:30 a.m. that day, but reversed downward after the news of the media and commerce site outages became known.

Recently, despite concerns over early rate hikes due to rising inflation and the Federal Reserve's tapering of asset purchases, US Treasury yields have been moving around the 1.5% level.

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