Treasuries saw an upward trend on Thursday as bond prices rose, causing the yield on the ten-year note to drop 7.0 basis points to 3.976 percent. This marks the first time the yield fell below 4.0 percent since April, closing at its lowest level in a year. The stock market experienced pressure due to concerns about bad loans following recent auto industry-related bankruptcies. Regional banks like Zions Bancorp and Western Alliance took a hit. Treasuries also benefited as a safe haven after disappointing U.S. economic data, particularly the Philly Fed’s report showing a significant decline in regional manufacturing activity in October.

Read more at Nasdaq: Ten-Year Yield Closes Below 4.0% For The First Time Since Early April