US Treasury Futures Rise as Investors Shun Technology Shares
Treasury prices advanced as concern over technology losses and higher interest rates drove investors toward safer assets.
Key takeaways
- The 10-year Treasury futures contract rose 0.91% to 105.83 points.
- The 10-year Treasury yield fell 0.13 percentage points to 5.05%.
US Treasury prices rose on Thursday as investors sought safer assets amid sharp losses in technology shares, particularly in artificial intelligence. The 10-year Treasury futures contract gained 0.91% to 105.83 points, while the 10-year yield fell 0.13 percentage points to 5.05%.
Higher-than-expected US inflation strengthened expectations of rising interest rates, adding to worries about borrowing costs for AI companies with heavy debt and expensive investment plans. DekaBank analysts described the technology stock moves as a “sell-off in US technology stocks.”
Better-than-expected US economic data did not weigh on Treasury prices. Regional manufacturing surveys pointed to continued growth, and US retail sales rose more than expected.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
