U.S. Treasury 30-Year Yield’s 59-Basis-Point Drop Set a Record

(Bloomberg) -- Monday’s Treasuries rally produced the biggest intraday decline in 30-year yields since at least October 1998, when Bloomberg data begin recording daily highs and lows. The rate fell as much as 59 basis points to a record low 0.699%, its first time trading under 1%.

The next biggest drop -- 47 basis points in November 2008 as U.S. stocks plunged during the financial crisis -- was from 3.905%. Of the 10 steepest intraday declines, one occurred last week and four were in 2008 or 2009. The U.K. Brexit vote in June 2016 and the Treasury’s surprise suspension of 30-year issuance on Oct. 31, 2001, caused two others.

The Oct. 15, 2014, flash rally was another, and the European debt crisis ignited the May 6, 2010, rally.

To contact the reporter on this story: Elizabeth Stanton in New York at estanton@bloomberg.net

To contact the editors responsible for this story: Benjamin Purvis at bpurvis@bloomberg.net, Mark Tannenbaum

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