Benchmark 10-year Treasury yield deepens slide, now below 1.20% as Dow skids down 800 points early Monday

Dow Jones2021-07-19

Treasurys rallied on Monday amid a selloff in equities, with the 10-year Treasury note yielding 1.20%, deepening its descent toward a February low.

Investors were buying government debt, driving the prices up and yields down, as worries about COVID-19's delta variant were gathering steam in a stock market that some view as priced to perfection.

The 10-year Treasury note was at 1.193%, which was around its lowest level since early February, FactSet data show.

Meanwhile, the Dow Jones Industrial Average was down nearly 800 points and headed for its sharpest one-day drop since late October. The S&P 500 index was trading 1.9% lower and the Nasdaq Composite Index was down 1.6% on the day.

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