Treasury prices jumped upward Friday, pushing short-term yields lower, as stock markets around the world plunged and resurrected the attractiveness of U.S. government debt as a relatively safe alternative.
Two-year note yields (UST2YR) dropped 14 basis points to stand at 1.48% after earlier sinking to their lowest level since March.
Bond prices move inversely to their yields.
U.S. equities headed down, following global markets as investors confronted ideas of global recession.
Sharply decelerating growth in South Korea and decline in England's growth indicate problems that started in the U.S. housing and mortgage market have infected a broad swath of other markets and other countries.
