The 20-year Treasury bond headed for its biggest rally since December on Thursday amid broad-based demand for the safety of U.S. government debt. The 20-year yield fell roughly 7 basis points to 2.35% in afternoon trading, putting it on pace for its biggest one-day drop since Dec. 3, 2021, when the rate fell 9.3 basis points, according to Dow Jones Market Data. Demand for government paper was fueled by ongoing tensions between Russia and the Ukraine, which sent Treasury yields lower across the board and led to a more than 350 point drop in Dow industrials . The 20-year bond, which was re-introduced in May 2020 for the first time since 1986, currently offers a higher yield than its 30-year counterpart , which traded at 2.3%.
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