August 7, 2019 / 12:49 PM / 13 days ago

TREASURIES-U.S. 30-year yields drop to record low on recession fears

NEW YORK, Aug 7 (Reuters) - U.S. Treasury yields slumped on Wednesday, with 30-year yields nearing record lows, on growing fears over a global downturn and bets the Federal Reserve would have to pick up its pace of interest rate cuts to counter growing recession risks.

At 8:41 a.m. (1241 GMT), the prices on 30-year or long bonds were up over 2 points in price after gaining nearly 3 points earlier. Thirty-year yields were down 9.60 basis point at 2.1736% after it hit 2.145% earlier, which was not far from an all-time low of 2.089% set in July 2016, according to Refinitiv data. (Reporting by Richard Leong; Editing by Bernadette Baum)

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