US 10-year yield dives below 4% as fresh bank fears prompt flight-to-safety

US 10-year yield declined significant overnight, closing below 4% psychological at 3.967, as investors flocked to the safety of bonds amidst growing concerns over the banking sector. This shift in sentiment was triggered by New York Community Bancorp’s unexpected quarterly loss and subsequent dividend cut, which led to a steep 34% drop in its stock. […]

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