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Here’s why the 10-year yield is a whisker away from setting a new record low


(Photo by Damir Sagolj/Getty Images)

The yield on the U.S. Treasury market’s most watched benchmark – the 10-year note – is on the verge of falling below its previous all-time record low as investors contend with renewed concerns that the pace of economic recovery will slow for the rest of the year, following a sharp contraction in GDP in the second quarter.

Without a new fiscal stimulus package from Congress, the expectation is for U.S. consumer spending to fall off dramatically, setting back the efforts of households and businesses to rebound from the economic devastation caused by the COVID-19…


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