Analysts at HSBC believe DM government bonds remain strong safe havens despite the recent jump in US Treasury yields.
Key quotes
“The incredible rush to cash in the past few weeks has not stopped at US Treasuries. Whilst that illustrates how cash is king currently, it is also important to note that these positions were liquidated much later than other safe havens, such as gold.”
“We have found US Treasuries to be the strongest safe-haven to a USD-based investor, followed by the JPY and then gold.”
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