10-Year Treasury Hits Lowest Level in Over a Year Amid Recession Fears

There is a 35 percent probability of a US recession, according to an economist.

Traders work on the floor of the New York Stock Exchange in New York City, on Nov. 2, 2023. Spencer Platt/Getty Images

Concerns about the United States entering a recessionary period contributed to a decline in 10-year Treasury yields on Aug. 5, with other major assets also suffering losses.

The 10-year Treasury hit a low of 3.65 percent on Monday, breaking through the low of 3.727 percent hit in July last year. The security has been on a downtrend after hitting its peak late April.