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Treasury yields plunged on Friday amid continued concerns about the global banking system, sending the policy-sensitive 2-year rate down by 18 basis points to 3.66% in morning trading. The yield is down more than 120 basis points over the past three weeks and headed for its biggest drop for such a length of time in more than 35 years. Meanwhile, the 10-year yield was down 11 basis points at 3.3% and poised for its biggest three-week plunge since March 2020.
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