10-year yield hits lowest level since March as historic oil plunge stokes fears about the economy

  • Treasury yields fell on Tuesday as a stunning drop in oil prices raised concern about the global economy. The U.S. 10-year rate fell to 0.55%, hitting its lowest level since March. The 2-year yield traded at 0.189% while the 30-year bond yielded 1.129%. Yields move inversely to prices.
  • Tuesday’s decline in yields comes after U.S. oil prices tumbled below zero for the first time on record, with crude storage facilities filling rapidly and as the coronavirus crisis ravages demand.

(Source: CNBC)