Mubasher: US Treasury yields slid to their lowest level ever as investors fled to safe-haven assets amid tensed geopolitical situation, while worries mounted about the impact of the intensifying trade tensions on global economic growth.

The 30-year Treasury note yield plunged as much as nine basis points (bps) to 2.0738%, lower from the prior record trough of 2.0882% hit in July 2016.

In addition, the gap between the five-year bond yield and the 30-year debt, a closely watched yield curve, flattened to 54 bps, while the gap between the two-year note yield and its 10-year counterpart inverted for the first time since 2007.

Investors sought shelter in the safest assets in the market raised another recession warning, sending the 10 Treasury yield to dive below the two-year note.