Treasury yields slide, 10-yr UK gilt yield hit record low on flight to safety

By FXStreet The flight to safety amid risk-off and falling Fed and BOE rate hike bets pushed the treasury yields lower.

The UK Gilt yields dropped as well, with the benchmark 10-yr yield hitting record low of 1.320%. Across the pond, the 10-yr treasury yield fell to 1.625%; the lowest since May 2013.

Banking stocks across Europe tanked, driving the major index lower by at least 3%. The investors, running for cover, are pouring their money into traditional safe havens like government bonds, Gold and Japanese Yen.
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Source:: FX Street