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The yield on 10-year US Treasury bonds hit its all-time low in nearly 16 months on Thursday, after dovish signals from central banks fueled a recovery in sovereign debt.
The 10-year Treasury reference rate fell 4 basis points to 2.3436% in the morning session in Asia, according to Reuters data. Yields fall as prices rise.
Elsewhere in the region, New Zealand's 10-year benchmark yield dropped 4 basis points to 1.750%, a new record. The Reserve Bank of New Zealand said on Wednesday that it was likely to cut rates in 2019 due to slowing growth.
In Japan, the 10-year note yield fell 2 basis points to settle at 0.087%, a level close to the lows reached in 31 months on Monday.
The month of March was marked by a general uptrend in fixed income, as yields on high-rated government bonds fell as central banks around the world decided to maintain or reduce their yields. .
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