Treasuries Rise After Trump Renews Threat of China Trade War
- Flare up could flatten yield curve to distressed level: Mizuho
- Renewed trade tension is last thing markets need: MUFG
Donald Trump speaks during an event in Washington, D.C., U.S., on April 30.
Photographer: Jim Lo Scalzo/EPA/Bloomberg
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Treasuries climbed after U.S. President Donald Trump revived his attack on China, speculating it could have spread the coronavirus and threatening trade tariffs.
Haven demand pushed U.S. bonds higher along with the dollar and yen. Benchmark yields headed for their first drop in three days, with dismal corporate news and deteriorating economic data adding to the gloom. Trump was also said to be exploring blocking a government retirement fund from investing in Chinese equities on grounds of it being a security risk.