U.S. sovereign bond prices were higher Tuesday, after being closed Monday for the July 4 holiday, resuming a strong "safe-haven" bid as global equities fell lower.
The yield on the benchmark 10-year Treasury note, which moves inversely to its price, closed at a record low of 1.3759 percent, while the yield on the 30-year Treasury bond was down at 2.1552 percent, also close to a record low. Meanwhile, the yield on Switzerland's 50-year government bond fell below zero for the first time on Tuesday, according to Reuters.
Uncertainty surrounding global growth and the U.K.'s referendum vote resumed among investors Tuesday after a strong rally in equities last week. The U.K.'s ruling Conservative party will hold the first stage of its selection process for a new leader on Tuesday evening and potential candidates have been busy putting their ideas forward for the post-Brexit environment.