10-year Treasury yield falls below 5% in flight to safety
What's new: The benchmark yield dropped more than 17 basis points, its biggest one-day fall since March 2023, as stocks slid and oil jumped.
The yield on the 10-year U.S. Treasury sank below 5% on Thursday for the first time since Sept. 23, as investors rushed into government bonds during a broader risk-off move. The benchmark yield fell more than 17 basis points to 4.972%, while the 2-year dropped more than 16 basis points to 4.659% and the 30-year fell more than 14 basis points to 5.296%. The move followed a steep stock sell-off tied to worries about heavy spending on artificial intelligence infrastructure and tighter capital conditions. Oil also climbed sharply, adding to market anxiety, with West Texas Intermediate at $99.47 a barrel and Brent at $113.17. The 10-year yield is widely used to price mortgages, auto loans and credit card debt.