'Crowded' Treasuries see yields spike after poll reveals scramble
Share:
LONDON (Reuters) - "If everyone owns it, there's no one left to buy" has long been a financial market truism and that may be partly reflected in the move in U.S. Treasury yields on Wednesday as they hit their highest levels in two weeks.While a dash for "safety" amid the coronavirus-related economic shock and renewed Federal Reserve bond buying explains the recent scramble for T-bonds, Wednesday's sudden reversal came after a closely watched investor survey by Bank of America indicated demand..