Additionally, global uncertainty sent international investors into the relative safety of U.S. Treasuries, which bolstered the U.S. dollar. The greenback also found support from positive economic data, such as rising personal income and spending in January despite the winter storms.
The yields on the benchmark 10-year Treasury dipped a little over 5 basis points to 2.605% Monday. The iShares 20+ Year Treasury Bond ETF (NYSEArca: TLT) was up 0.4% and the iShares 7-10 Year Treasury Bond ETF (NYSEArca: IEF) gained 0.2%. Bonds have an inverse relationship to yields, so falling yields corresponds with rising bond prices.
Meanwhile, the PowerShares DB U.S. Dollar Index Bullish Fund (NYSEArca: UUP), which tracks the performance of the U.S. dollar against the euro, yen, pound, Canadian dollar, krona and franc, was up 0.4% Monday.
Lastly, investors have been turning to the SPDR Gold Shares (NYSEArca: GLD) as a safe-haven hedge against market volatility. Gold helps investors maintain wealth as global currencies sporadically fluctuate during risk-off conditions. GLD is up 2% Monday as gold futures hit $1,351.2 per ounce, a four-month high. [Safe-Haven Interest Supports Gold ETFs; Bullion Prices at 16-Week High]
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Max Chen contributed to this article.