Benchmark US borrowing costs fell below 2 per cent for the first in at least 60 years as markets took fright at increasing signs of global economic weakness.
US 10-year Treasury bonds, the linchpin of the global financial system used to price many assets around the world, yielded as little as 1.97 per cent on Thursday, their lowest since April 1950, according to Global Financial Data.
There were also savage falls for German and British borrowing costs, which hit record lows.
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