10-year Treasury yield collapses to another record low of 1.18% amid coronavirus fears

The 10-year U.S. Treasury yield plunged to a fresh record low on Friday as investors dumped riskier assets and searched for safer options amid the coronavirus outbreak.
At around 6:20 a.m. ET, the benchmark rate traded around 1.18%. Friday marked the first time ever the benchmark rate traded below 1.2%. The 10-year yield ended last week at 1.47%. The 2-year rate, meanwhile, slid to 0.96%.
Concerns about the global economic impact of the coronavirus have dented investor sentiment this week. The death toll in China from the virus has topped 2,700. Meanwhile, New Zealand and Nigeria reported their first coronavirus cases overnight. In Iran, the number of cases has grown to nearly 400.
Read more: CNBC.