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.