India, April 9 -- Extending the substantial pullback seen over the two previous sessions, treasuries showed another significant move to the downside during trading on Wednesday.
Bond prices fell sharply early in the session and remained firmly negative despite regaining some ground late in the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, surged 13.8 basis points to 4.400 percent.
With the continued increase, the ten-year yield has spiked by 41.5 basis points since hitting a six-month closing low of 3.985 percent last Friday.
While typically seen as a safe haven during times of turmoil, treasuries extended their recent slump amid rising trade tensions between the U.S. and China.
After Pr...