NEW YORK (AP) — Investors flooded into the U.S. Treasury market in a way not seen since the depths of the financial crisis, causing the yield on the benchmark 10-year Treasury note to fall below 2 percent for the first time in more than a year.
The yield on the benchmark 10-year Treasury note plunged from 2.20 percent Tuesday to as low as 1.91 percent Wednesday, its lowest level since June 2013. That’s a decline of 29 basis points, a Wall Street term to describe one one-hundredth of a percent, and a huge move in the context of the bond market.
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