Treasury yields plummeted overnight and in early New York trading as a global stock selloff fueled demand for safe-haven assets like Treasury bonds. Bond yields fall when prices rises and vice versa. The 10-year Treasury yield fell below 2% for the first time in nearly four months and traded 7.8 basis points down on the day at 1.976%, its lowest point since April 28. Monday's moves came after the 10-year yield shaved off a total of 14.4 basis points last week—a sizable move for Treasurys and the largest weekly decline since March 20. The 30-year Treasury yield fell 7.4 basis points to 2.670% and the 2-year Treasury yield shaved off 5.3 basis points to 0.576%.
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