Markets around the world were awash in red on Monday as global uncertainty spooked nervous investors.
Investors are looking ahead to a policy announcement later this week from the U.S. Federal Reserve, which could hike interest rates. The Bank of Japan is also due for a policy announcement mid-week.
On top of that, there is the looming possibility of turmoil in Europe next week if the U.K. votes to leave the European Union.
“A major reason why investors have sought a safe haven in fixed income is the potential earthquake in the U.K. on June 23,” wrote investment strategist Greg Valliere of Horizon Investments in his Monday morning note.