virus

10-Year Treasury Hits Record Low on Virus Fears

Investors spooked by the coronavirus outbreak continued to flock to the safe haven of government debt on Friday, driving the yield on the 10-year Treasury note to record lows.

After sinking to an all-time low of 0.6572% early in the day, the yield on 10-year debt bounced back to around 0.74%. The 30-year rate, meanwhile, plunged as much as 34 basis points to 1.2036%.

As CNBC reports, “The plunge in yields came amid an exodus from stocks as disruptions to businesses around the world on the back of the coronavirus outbreak heighten fears of a global slowdown.”

Financial markets have continued to reel even though the U.S. Federal Reserve earlier his week cut interest rates by 50 basis points and Congress approved roughly $8 billion in emergency spending to combat the coronavirus.

“It’s a brave new world of 0-handles and we’ve now taken to referencing 10-year yields in basis point

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World food prices dipped in Feb as virus hit demand: FAO

World foods rates slipped in February, ending 4 months of successive raises, with the distribute of coronavirus dampening need for some merchandise, the United Nations foods company said on Thursday.

The Food stuff and Agriculture Organization (FAO) foods price tag index, which measures regular monthly alterations for a basket of cereals, oilseeds, dairy merchandise, meat and sugar, averaged one hundred eighty.5 points last month, down 1. per cent on January.

FAO also a bit upped its forecast for cereal output, predicting a crop totalling some two.719 billion tonnes in 2019, up from a prior forecast of two.715 billion and some two.three per cent larger than the 2018 crop.

The vegetable oil price tag index plunged 10.three per cent from January, led by a slump in palm oil rates, even though the cereal price tag index eased .9 per cent, with the international rates of all key cereals, apart from rice,

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