Treasury yields dropped on Monday as investors sought safer assets amid a global stock market sell-off due to concerns that a US recession may take hold soon. The yield on the 10-year Treasury fell to its lowest level since July 2023, hitting more than 3%. The 2-year Treasury yield also declined. Weaker-than-expected US jobs data on Friday, showing only 114,000 jobs added in July, fueled recession fears. The unemployment rate also unexpectedly rose.
