Bonds

10-year Treasury yields fall below 1.75% amid coronavirus fears

Treasury yields continued to slide on Thursday as the death toll resulting from the China coronavirus continues to rise.

Treasurys

The yield on the benchmark 10-year Treasury note, which moves inversely to price, fell three basis points to 1.739%, while the yield on the 30-year Treasury bond fell to 2.178%.

The death toll from the pneumonia-like illness originating out of Wuhan, China, rose to 17 on Wednesday, with 571 cases now detected throughout Asia and as far away as the U.S.

The World Health Organization will reconvene on Thursday to determine whether to declare a global health emergency and devise a plan to contain the outbreak.

Investors worldwide have sought safety amid concerns about an economic fallout, with Chinese Treasury futures surging overnight.

On the data front, weekly jobless claims rose less than expected to 211,000 from 205,000 the week before. Economists were estimating 215,000 Americans filed applications for unemployment benefits last week, according to Dow Jones. 

Auctions will be held Thursday for $40 billion worth of four-week Treasury bills and $40 billion worth of eight-week bills.