Traders Run for Cover as US Banking Woes Spur Haven Demand.

(Bloomberg) -- Government bonds surged and stocks slid as signs of distress at a California lender spurred broader worries over the US banking sector's debt holdings. "Broader banking concerns may put question marks behind the pace the Fed is able to raise interest rates", said Christoph Rieger, head of fixed-rate strategy at Commerzbank AG. [Extracted from the article]