Mumbai, March 2 -- Treasuries moved sharply higher, extending the upward move seen in the previous session. As a result, the yield on the benchmark ten-year note which moves opposite of its price, slumped 5.5 bps to a four-month closing low of 3.96%.

U.S. Treasury yields fell Friday as investors reacted to a stronger-than-expected January wholesale inflation report, and a tumbling stock market amid rising fears of artificial intelligence hurting the economy.

The benchmark 10-year Treasury yield fell more than 5 bps to 3.96% while the 30-year Treasury bond yield dropped more than 3 bps to 4.63%. The 2-year Treasury note yield was lower by more than 5 bps at 3.38%.

Published by HT Digital Content Services with permission from Capital Mar...