India, Feb. 25 -- Treasuries moved sharply higher during trading on Tuesday, adding to the strong gains posted over the past few sessions.
Bond prices surged early in the session and remained firmly positive throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, tumbled 9.5 basis points to 4.298 percent.
With the steep drop on the day, the ten-year yield ended the session at its lowest closing level in well over two months.
Treasuries benefited from their appeal as a safe haven amid concerns about the outlook for the economy after the Conference Board released a report showing a significant deterioration by U.S. consumer confidence in the month of February.
The Conference Board sai...