The yield on the benchmark 10-year Treasury dropped to as low as 1.031%. PHOTO: PATRICK SEMANSKY/ASSOCIATED PRESS
US stocks rose and government bond yields fell as investors bet central banks would take steps to stabilize markets and shield growth from the economic impact of the coronavirus.
The Context: Officials from several major central banks signaled they could enact stimulus. ECB Vice President Luis De Guindos suggested the bank could roll out fresh interest-rate cuts and bond purchases. That echoed comments from Fed Chair Jerome Powell.