The sell-off of technology stocks triggered a flight to safety, leading to a decline in U.S. Treasury yields

Due to the sell-off of technology stocks triggering a demand for safe-haven assets, U.S. Treasury yields accelerated their rise during the Asian trading session on Friday, with yields on all maturities falling by at least 3 basis points. Bonds from Australia, Japan, and New Zealand followed suit, with the 10-year government bond yield dropping by more than 5 basis points.

In October, the benchmark 10-year U.S. Treasury yield has fallen by nearly 40 basis points.