10-year Treasury yield drops to another record below 1.04% as historic fall in US rates continues

The 10-year Treasury yield dropped to another record low on Monday below 1.04% as the historic decline in U.S. rates continued amid the coronavirus outbreak and Wall Street calls for Federal Reserve stimulus.
The 10-year yield hit a record low of 1.036% at one point overnight before bouncing and was last at 1.05%. The 2-year Treasury yield fell to 0.71%, threatening to break its low in November 2016. The 30-year yield was at 1.623%, a record low.
Investors are betting the Federal Reserve will now act aggressively in response to a coming economic slowdown due to the coronavirus outbreak. The fed funds futures market has already priced in a 50 basis point cut at the Fed’s meeting this month, according to CME Fed Watch tool.
Read more: CNBC.