Yields on 10-year government debt continued to decline in August. All of the 18 sovereign markets Tradeweb tracks in its monthly Government Bond Update saw yields fall by more than 10 basis points, with some even hitting record low levels in the process.
Leading the pack was the 10-year U.S. Treasury note. Dropping a considerable 51.5 basis points, its mid-yield reached a low of 1.47% on August 28, before finishing the month at 1.50%. Speculation of another rate cut from the Fed at its September meeting intensified amid tepid economic data and fears of a