Safe-haven assets rallied in unison on Friday after the U.S. killing of a top Iranian general in Iraq sparked a broad flight to safety move.
Investors flocked to safe assets after a U.S. airstrike ordered by President Donald Trump. Soleimani had been a key figure in Iranian politics and his death has raised concerns over a potential retaliation from the Iranian forces.
Iran's Foreign Minister has tweeted that the U.S. bears responsibility for all consequences of its "rogue adventurism," while Fars News Agency reported a spokesman as saying that Iran's top security body will meet to discuss Tehran's response. "The market response has largely been an intuitive flight to quality," Ian Lyngen, BMO's head of U.S. rates, said in a note on Friday. "Global geopolitical strains were always a key risk to the 2020 trading outlook, and the price action across several markets has meshed well with the impulse."
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