The intense flight-to-safety on Monday ramps up the demand for safe-haven US Treasury bonds and drives their yields lower. As of writing, the 10-year T-bond yield, which touched its lowest level since July at 1.360%, down 7.15% on the day at 1.367%.
Moreover, the 2-year T-bond yield is losing 8% on the day at 1.252 and the short-term 3-month yield is down 1.7% at 1.53%.
In the meantime, the Euro Stoxx 50 is down 4.1% to reflect the risk-off environment and the S&P 500 futures are erasing 3% to suggest that Wall Street’s main indexes will open significantly lower on Monday.
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