The Treasuries sell-off intensified as investors continued to pull back from US assets, sending longer-dated yields toward the biggest weekly surge since the 1980s.
The rout, which was set off by the US trade war that has shaken global markets, is threatening to deal another hit to the US economy by pushing up borrowing costs more broadly. It is also casting doubt on Treasuries’ status as the world’s safe haven as they slide along with the stock market, sending investors into other assets like the Swiss franc, gold and the Japanese yen.
