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NEW YORK — Investors stampeded into U.S. government bonds Thursday, driving the interest rate on the 10-year Treasury note as low as 1.54 percent, a record.
People were fearful the U.S. economy might be hitting the skids at the same time that Europe is falling apart and the economies of China and India are slowing. When investors want to protect their portfolios, they tend to plow money into U.S. government bonds, which are considered among the safest in the world.
The record-low rate beat the previous mark of 1.55 percent, which was set in November 1945.
