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[$$] Economic Doubts Drag U.S. Treasury Benchmark Rate Further Below 3%

A weekslong rally in government bonds has pushed the yield on the benchmark 10-year Treasury note below 3% for the first time since September, signaling some investors are increasingly worried about the pace of U.S. growth. This year’s climb in the 10-year yield—which helps set borrowing costs for companies, consumers and state and local governments—has stalled in recent weeks, weighed down by trade tensions, stock swings, falling oil prices and concerns that an economic slowdown outside the U.S. could weigh on the expansion here. Government bonds rallied after the U.S. and China reached a 90-day trade truce, and gained further Tuesday as the Dow Jones Industrial Average dropped nearly 800 points.