While market volatility was much more subdued in April compared to March, 10-year government bond yields mostly declined, as central banks intervened with stimulus efforts to support economic recovery and stability.
The yield on the U.S. 10-year Treasury fell 7 basis points to finish the month at 0.62%. On April 29, the U.S. Federal Reserve kept the federal funds rate in a target range of 0 to 0.25%, and committed to using the “full range of tools” to help the economy. Unemployment in the country soared, with jobless claims during the pandemic crisis topping 30