Interest Rates on Treasury Securities Continue to Plunge

The yield on the US 10-year Treasury has dropped below 3 per cent, while the yield on the 2-year note has fallen below 0.6 per cent, a record low.

It appears that sizable amounts of money continue to  be flowing into the perceived safe haven of Treasury securities. Given the huge amount of new debt the Treasury will be coming to market with in the years ahead, this is truly stunning.  But panic is panic.