The yield on US 10-year Treasury bonds is plummeting.
Near noon on Tuesday, yields hit a new low of 1.88% after plunging below 2% earlier in the day.
In morning trade Tuesday the yield had dipped below 2%, but near 8:10 a.m. ET, yields blew through that level to about 1.96%, the lowest since the Oct. 15 “flash crash” that sent yields as low as 1.86%.
The leg lower in US Treasury yields comes as the German 10-year bund continues to press new lows, falling to as low as 0.44%.
While the longest-date US Treasury bonds, the 30-Year bond, was seeing yields move towards their record low of 2.45% hit back in 2012.
The plunge in bond yields comes amid another tumble in the price of oil and another terrible day for the stock market.
Near noon, the Dow was down 190 points, the S&P 500 was down 22 points, and the Nasdaq was down 66 points.
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