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10-year Treasury yield hits 3-mth low as Asia reels after yuan devaluation
August 12, 2015 / 1:55 AM / 2 years ago

10-year Treasury yield hits 3-mth low as Asia reels after yuan devaluation

TOKYO, Aug 12 (Reuters) - The benchmark 10-year U.S. Treasury note yield slid to a three-month low on Wednesday as Asian financial markets continued to reel after China's surprise devaluation of the yuan, feeding demand for safe-haven assets.

The yield on the 10-year note fell five basis points to 2.087 percent, the lowest since early May.

China's near-2 percent devaluation of the yuan on Tuesday has hurt risk assets by deepening concerns about the world's second largest economy.

Spot yuan slid to a four-year low on Wednesday while Asian bourses fell across the board. Tokyo's Nikkei shed about 1.1 percent. (Reporting by Shinichi Saoshiro; Editing by Richard Borsuk)

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