AI Stock Sell-off Drives Down US and European Government Bond Yields

Panic selling in the stock market has led to a flight of capital into government bonds as a safe haven. The yield on the 10-year U.S. Treasury bond fell by 10 basis points to 5.089%. The yield on the 10-year German government bond decreased by 8.5 basis points to 3.3819%. The yield on the 10-year French government bond dropped by 11.5 basis points to 4.7619%. The yield on the 10-year Italian government bond fell by 10 basis points to 4.4657%. Strategists at TD Securities noted that the sharp decline in the AI sector has lowered market expectations for economic growth, making bonds an effective hedging tool.

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