Treasury Yields Tumble Near Feb 'Flash-Crash' Lows

It appears the search for a safe-haven has left Biotechs and FANGs as investors' flight to quality sparks a bid under bonds & bullion. US Treasury yields are tumbling with 10Y and 30Y near the low close from mid-February's "flash-crash" lows.

7Y yields are outperforming for now and 2Y underperforming

 

And with aggregate speculative positioning still notably short...

 

We suspect there is a lot more pain to come as The Fed folds to China's pressure.