Additionally, some point to the weakening U.S. growth outlook as a catalyst for safe-haven demand.
“We are now starting from a negative first-quarter GDP number after revisions — so growth is really going to have to pick up to get us to everyone’s year-end bogey of 3%.” Tom Tucci, managing director and head of Treasury trading at CIBC World Markets Corp., said.
While debt on the long-end of the yield curve took a hit, short-duration assets held up. The iShares 3-7 Year Treasury Bond ETF (NYSEArca: IEI) and iShares 7-10 Year Treasury Bond ETF (NYSEArca: IEF) both gained about 0.1% Thursday.
iShares 20+ Year Treasury Bond ETF
For more information on Treasuries, visit our Treasury bonds category.
Max Chen contributed to this article. Tom Lydon’s clients own shares of TLT.