Global government bond markets continued to rally Friday as investors flocked to safe assets, driving prices higher and pushing yields to new lows across the world. The yield on the 10-year German bond , known as the bund, tumbled to 0.02%, an all-time low, according to Tradeweb. And the yield on Britain's benchmark government bond , known as the 10-year gilt, fell to an all-time low of 1.229%. Overnight, the Japanese 10-year benchmark yield touched a record low of negative 0.155%. The continued decline in yields spilled over to the U.S., with Treasury yields retreating to multimonth lows. The yield on the 10-year Treasury note , the U.S. benchmark bond, fell to 1.649%, its lowest point since Feb. 11, the day the stock market hit its nadir. Meanwhile the 30-year yield fell to 2.451%, its lowest level since February 2015, according to FactSet. The yield on the two-year Treasury fell to 0.755%, its lowest level since May 13. Meanwhile, the spread between the 10-year and the 2-year Treasury narrowed to its tightest since November 2007, a trend known as a flattening yield curve.
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