Investors rush into bonds, gold in flight to safety after SVB rescue
Investors flocked to safe-haven assets such as Treasurys and gold on Monday amid an extraordinary plan to backstop the banking system and limit the impact from the collapse of Silicon Valley Bank. The benchmark 10-year Treasury yield fell nearly 20 basis points to 3.50%, touching the lowest level since Feb.3. The 10-year rate last traded around 3.54%. The yield on the 2-year Treasury tumbled more than 40 basis points to 4.16%, also the lowest in over five weeks. Yields move inversely to prices and one basis point equals 0.01%. The iShares 20+ Treasury Bond ETF jumped 1.6%.... Investors sought safety as banking regulators rushed to [...]