Tim Boyle | Bloomberg | Getty Images
The yield on the benchmark 30-year Treasury bond plunged to a new record low on Wednesday as a global hunt for safer assets threatened to send the rate below 2% for the first time in history.
Shortly before 8 a.m. ET, the yield on the U.S. 30-year bond traded at 2.015%, well below its prior all-time low of 2.0889% hit in the days following Britain’s June 2016 referendum to leave the European Union.
Bond market anomalies were the focus of Wall Street on Wednesday. Along with the record low in the 30-year yield, plunging long-term rates caused the 10-year yield to fall below the 2-year rate, a reliable recession indicator.