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AI stocks faltered globally and investors turned to the safety of Treasurys, as a renewed selloff in French government bonds and a fresh run-up in oil prices strained markets.
US Treasury yields yet to peak as Fed may tighten further, PIMCO's Ivascyn says
US Treasuries resumed their retreat, lifting the 30-year yield back to its highest since 2002 as climbing oil prices raised concern about faster inflation and more central bank interest-rate increases. Vishal Khanduja, Head of Broad Markets Fixed Income at Morgan Stanley Investment Management, discusses credit spreads and whether or not yields will soon peak.
PIMCO 25+ Year Zero Coupon U.S. Treasury Index Exchange-Traded Fund (NYSEARCA:ZROZ - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $52.62 and last traded at $52.5040, with a volume of 177126 shares traded. The stock had previously closed at $53.92. PIMCO 25+
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U.S. Treasury yields pulled back Thursday, but long-term borrowing costs in Britain and France continued to climb.
For Treasury investors, there's no other way to describe the past three months other than brutal.
Plus, two-year Treasury yield falls as Fed official signals patience.