Safe-haven assets like bonds and gold gave up some recent gains while stocks clawed back some of yesterday’s dramatic losses amid rising hopes of imminent monetary and fiscal stimulus to counter the coronavirus epidemic.
As of 11:39 am ET on March 13, the benchmark 10-year U.S. Treasury note was up over 10 percent on the day, while the 30-year bond lifted over 4 percent, in a sign that some of Thursday’s risk-off panic had subsided. Treasury yields move opposite to prices, with rising yields being a sign that investors have a greater appetite for risk and are abandoning refuge assets in a search for higher, but riskier, returns.
