The sell-off in the U.S. stock market is driving funds towards U.S. Treasury bonds, and yields may further decline

Before the release of the October employment report in the United States, bond traders bet that the U.S. Treasury market would rise, with the 10-year Treasury yield falling to its lowest level since early September at 4.82% on Thursday. Options market trades are betting that yields could drop to 4.7% or 4.35%.

The chief strategist at TD Securities stated that the U.S. economy remains strong, and the market has significantly reduced expectations for interest rate hikes.