0902 GMT - Longer-dated Treasurys are worth buying after their falls last month which took yields sharply higher, says Morgan Stanley Investment Management's Jim Caron in a note. The rise in yields was "mainly technical in nature." It came as investors scrambled to cover positions and unwound basis trades--a leveraged way to hold Treasurys--following a sudden fall in equities after the announcement of widespread U.S. tariffs. Treasurys are still a safe-haven investment, Caron says. "If the U.S. economy is slowing due to tariffs, and recession risks are rising, we then believe longer duration U.S. Treasurys have both outright and hedging value to investors." (emese.bartha@wsj.com)
(END) Dow Jones Newswires
May 07, 2025 05:02 ET (09:02 GMT)
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