NEW YORK: US longer-dated Treasury yields on Monday recorded their steepest one-day drop in more than 14 months as investors scooped up low-risk government debt due to a worsening trade spat between China and the United States.

In late US trading, yields on 10-year Treasury notes and 30-year bonds fell by nearly 14 and 13 basis points, respectively. This marked their biggest single-day decline since May 29, 2018 stemming from a safe-haven rally fueled by worries about a political crisis in Italy.