U.S. Treasury yields fall by at least 7 basis points, U.S. stocks drop significantly in early trading

The yield on the 2-year US Treasury fell by 8.01 basis points to 4.0381%, trading in a range of 4.1246% to 4.0085% throughout the day. The yield on the 20-year US Treasury dropped by 8.50 basis points to 5.1146%; the yield on the 30-year US Treasury declined by 7.42 basis points to 5.1064%. The yield on the 3-year US Treasury fell by 9.58 basis points to 4.1051%; the 5-year US Treasury yield decreased by 10.53 basis points to 4.2210%; the 7-year US Treasury yield declined by 10.67 basis points to 4.3881%. The 2-year/10-year US Treasury yield spread narrowed by 2.069 basis points to +52.313 basis points. The 3-month Treasury bill/10-year US Treasury yield spread narrowed by 8.600 basis points; the 2-year/30-year US Treasury yield spread widened by 0.689 basis points; the 5-year/30-year US Treasury yield spread widened by 3.067 basis points. The yield on the 10-year Treasury Inflation-Protected Securities (TIPS) fell by 4.91 basis points to 2.1086%; the 2-year TIPS yield rose by 1.67 basis points to 1.2623%; the 30-year TIPS yield fell by 4.07 basis points to 2.8164%.