The yield on US 10-year Treasury bonds just plunged below 2%.

In morning trade Tuesday the yield had dipped below 2%, but near 8:10 a.m. ET, yields blew through that level to about 1.96%, the lowest since the Oct. 15 "flash crash" that sent yields as low as 1.86%.

The leg lower in US Treasury yields comes as the German 10-year bund continues to press new lows, falling to as low as 0.44%.

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