Treasury Yields Tumble To 3-month Low; 10-year Treasury Below 2%

Treasury yields tumbled Friday to their lowest levels in three months, as a global stock rout led investors to the perceived safety of U.S. government debt. Treasury yields fall when prices rise, and vice versa. News that U.S. retail sales dropped in December helped support the Treasury rally, pushing yields down further. The yield on the 10-year Treasury note -- the Treasury market's benchmark -- skidded 10.5 basis points to 1.995%, its lowest level since Oct. 14. The yield on the 30-year bond slumped 9.4 basis points to 2.810%. The yield on the 2-year note plunged 7.7 basis points to 0.818%; it's on its longest streak of declines in six years.