The government debt prices are changing as the investors are concerned about the economic consequences of coronavirus.
US Treasury yields were lower on Monday, January 27, as the coronavirus outbreak in China continued to escalate.
The benchmark 10-year Treasury note that is moving inversely to its price was visibly lower at around 1.64 per cent. Meanwhile, 30-year treasury bond was lower too at 2.1 per cent.
According to the Chinese officials, currently the presence of virus was confirmed in 2,700 cases. The death toll rose to 81 people, and over 461 more were in critical condition after suffering the pneumonia-like coronavirus.
China was forced to extend the national New Years' holiday in an attempt to prevent the expansion of the virus. The coronavirus is likely to affect the country's economy, as tourists flee from the infected regions at the very peak of travel season.
At least 44 cases of coronavirus were confirmed in other countries, including the US, Australia and Thailand. So far, deaths have been registered outside China.
Coronavirus has already affected the commodities market. Oil prices have notably plunged as a result of growing concerns. Brent was trading at $58.91 per barrel, down 2.93 per cent, and WTI fell 3.06 per cent to $52.53 per barrel.
Meanwhile, gold, considered as a safe haven for investors, grew 0.68 per cent to $1,581.