U.S. Treasury yields tumbled on Wednesday, with 30-year yields approaching recor...
NEW YORK - U.S. Treasury yields tumbled on Wednesday, with 30-year yields approaching record lows, on growing fears over a global economic downturn and bets the Federal Reserve would have to pick up its pace of interest rate cuts to counter recession risks.
Bond yields fell around the world with German yields hitting record lows in negative territory. That came in the wake of several Asian central banks lowering their key interest rates to address growth concerns stemming from the escalating trade war between China and United States. The 10-year note sale is part of this week’s $84 billion quarterly refunding which is expected to raise $26.7 billion in cash for new federal spending.
Thirty-year yields US30YT=RR were down 3.60 basis points at 2.234% after it hit 2.123% earlier, which was not far from an all-time low of 2.089% set in July 2016, according to Refinitiv data.
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