The yield on the benchmark 10-year Treasury note fell below 2% for the first time since November 2016 overnight after the Federal Reserve on Wednesday signaled rate cuts were likely on the way.
The yield on the 10-year Treasury note fell to a low of 1.974% before rebounding slightly to 2.01% as of 4:10 p.m. ET Thursday. The yield on the 2-year note also trimmed its decline to trade at 1.757%, just above its lowest level since November 2017 of 1.7% clinched earlier in the session. The 3-month bill yielded 2.131%, 11.6 basis points more than that of the 10-year yield.
Landmark Financial Seoul Korea Blog 