The global stock market and bond markets are in a state of panic over the coronavirus. Day after day it's been a case of lower and lower yields.

This morning, the yield on the 30-year long bond crashed another 24 basis points to yet another record low. The entire yield curve is below 1.0%. Yet inversions persist out to two years.

Crash!

The 30-year long bond yield is now inverted with the Fed Funds Rates by 12 basis points.

The Fed is going to cut rates to zero on its next move.

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What's Happening?

  1. Oil Price War and Liquidity Crisis Coming
  2. Crude Dives to $30, a Whopping $20 Below Cost of Production
  3. Italy Quarantines Over 25% of the Population, Trump Not Concerned
  4. Very Deflationary Outcome Has Begun: Blame the Fed

This is precisely what happens when Fed-sponsored asset bubbles break.

But other than that, It's Just Like The Flu™ .

Mike "Mish" Shedlock

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The yield curve has flattened considerably over the last year. Will it invert? Where? The following chart explains.

Record Low 30-Year Bond Yield and Record High on Gold Coming Up

Once again, the yield on the 30-year long bond is below 2.0%. I expect a record low yield shortly. Gold will benefit.

Entire Yield Curve Inverts, 30-Year Long Bond Yield Dives to Record Low

The stock markets are getting clobbered and bonds are on fire as recession fears escalate.

Historic Crash in Bond Yields and More Coming

Bonds yields crashed this week. The Fed made emergency inter-meeting cuts last week but that is just the start.

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The entire German yield curve is negative for 30 years. Japan is poised to join the club.

Number of Yield Curve Inversion Points Rises as the Long-Bond Yield Dives

The US Treasury 5-year yield is now inverted with 3, 2, and even the 1-year treasury yield.

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Hello one-handle: In response to Trump's misguided Tariff tactics on Mexico, bond yields continue to crash.

4th Time a Charm for the Long Bond?

For the 4th time the long bond yield dropped below 2.0%. Will this one last?