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U.S. Long-Bond Yields Test All-Time Low as Virus Concerns Mount

  • Yield came to within one basis point of August’s record level
  • Benchmark U.S. 10-year rate has been dragged below 1.50%
A cyclist passes through a quiet street  in Beijing on Feb. 19.

A cyclist passes through a quiet street  in Beijing on Feb. 19.

Photographer: Kevin Frayer/Getty Images

Updated on

The yield on the 30-year Treasury bond came within a basis point of its all-time low amid growing concern about the global economic fallout of the coronavirus epidemic.

Yields fell as much as 5 basis points to 1.9107% on Friday as the outbreak accelerated outside China, with South Korea reporting a surge in infections. That’s close to the all-time nadir of 1.9039%. The yield on the long-dated bonds has fallen close to half a percentage point so far in 2020. Treasury notes and bonds rallied across the spectrum, with the 10-year reaching as low as 1.47% as the curve flattened.