U.S. government debt prices edged higher on Wednesday as jittery investors continued to flock to the safety of bonds.
The yield on the benchmark 10-year Treasury note, which moves inversely to its price, dropped to 2.729 percent, its lowest level since April 2018. Financial markets were closed Tuesday for the Christmas holiday.
Yields on 10-year U.S. Treasury notes slipped on Monday to eight-month lows as investors, unsettled by dramatic stock market losses and further U.S. interest rate increases, piled more money into low-risk government debt.
A partial U.S. government shutdown that began on Saturday heightened anxiety among traders and fund managers and likely will stoke demand for this week’s $113 billion of coupon-bearing Treasuries, analysts said.
—Reuters contributed to this report.