
Investors Flee to Safe Haven Assets as North Korea Tensions Heat Up
European investors were flocking towards safe haven assets Friday morning as stocks sank after President Donald Trump increased his rhetoric towards North Korea
The price of German Bunds, which was is considered Europe's premier safe haven asset - reached a six-week high Friday. The 10-year Bund yield was down to 0.3790 at 10.55 am in Frankfurt. A bond yield falls when price increases.
U.K. government bond yields were also down Friday morning, with 10-year Gilts yields at 1.0410. Meanwhile the U.S. 10-year Treasury yield was down to 2.1906.
Spot gold was trading at $1,288.23 per ounce up 0.13% on the day, its highest point since June 6.
The Swiss franc was rising against the dollar gaining 0.33% to $1.0426. The currency was also up 0.5% against the euro to €0.8868.
The Japanese yen, which is also favored by investors in times of uncertainty, rose against every other major currency, hitting ¥109 against the dollar Friday morning.
The U.S. dollar index, which measures the greenback against a basket of major currencies, was hovering at one-year lows at 93.45.
President Trump Thursday said that his threat of "fire and fury" towards North Korea "maybe wasn't tough enough," adding that North Korea has "been doing this to our country for a long time, for many years, and it's about time that somebody stuck up for the people of this country and for the people of other countries."
This sent stocks down in the U.S. Thursday, with Asian and European markets following on Friday morning.
London's FTSE 100 was down almost 1.2% at 9:30 am, Germany's DAX was down 0.57% and France's CAC 40 was down 1.24%.
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