The 10-year Treasury yield fell sharply below 4% due to escalating fears of a trade war potentially leading to a recession. Following China’s retaliatory tariffs on U.S. goods, investors sought safety in bonds, driving yields down. The yield dropped over 14 basis points to 3.912%, its lowest since October. Analysts warn that these policies could push the global economy into a recession, with JPMorgan increasing the probability of a U.S. recession this year to 60%. Despite a mixed jobs report, yields remained low, reflecting ongoing concerns about the economic outlook.
— new from CNBC
