CNN, March 3, 2020: The 10-year Treasury yield just dropped below 1% for the first time in history
The 10-year Treasury bond yield dropped below 1% for the first time in history on Tuesday, as investors grew increasingly worried about the novel coronavirus outbreak.
U.S. government bond yields have been trending lower since the start of the year, but their fall accelerated as U.S. financial markets reacted strongly over the past couple weeks to the potential economic damage from the spreading disease.
Exacerbating those fears, the Federal Reserve delivered an unscheduled half-percentage point interest rate cut on Tuesday to boost the economy in the face of coronavirus. It was its first emergency cut, and the first cut of that size, since 2008.
