Consequently, U.S. Treasuries remain the de-facto, go-to investment during these troubled times. The safe-haven investments saw prices rise, with yields on the benchmark 10-year note dropping 4 basis points to 1.93%. The iShares Barclays 7-10 Year Treasury Bond Fund ETF (NYSEArca: IEF) was up 0.3%.
“Fears about the euro zone were again to the fore on Monday,” Julian Jessop, chief global economist at Capital Economics in London, said in a Reuters report. “The real news was the recession signals from the April euro-zone PMI and the results of the first round of the French elections.”
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Max Chen contributed to this article.
For disclosure, Tom Lydon’s clients own SPY.