Safe-haven sentiment outweighs inflation concerns, US Treasury yields decline

Odaily News Despite rising oil prices, US Treasury yields fell during Asian trading hours as bond investors gradually shifted their focus from inflation fears triggered by the Middle East conflict to growth risks. Elmar Voelker, Senior Fixed Income Analyst at Landesbank Baden-Württemberg, stated in a report that the damage and disruptions in the energy sector so far could continue to have an impact for some time and may spill over into other areas of the economy. The bank expects that economies on both sides of the Atlantic will suffer a growth loss of approximately 0.25 percentage points this year compared to the previous main scenario. Tradeweb data shows that the two-year US Treasury yield fell by 3.9 basis points to 3.875%; the ten-year US Treasury yield fell by 5.2 basis points to 4.387%. (Jin10)