The Bloomberg US Treasury Index recently turned positive, driven by easing inflation and steady job growth, and triggered a rally that brought yields down from their highest levels in more than a decade. According to the CME's FedWatch Tool, the market anticipates more than a 50% chance of a rate reduction of at least 25 bps by May (read: 5 ETFs Set to Gain as Inflation Cools Down). Further, uncertainty surrounding global economic growth and geopolitical tensions can lead investors to seek refuge in Treasury securities, which are perceived as safe-haven assets.