Yield on world's benchmark bond falls below 1% for first time

The 10-year US Treasury yield, which is taken as the notional "risk-free" benchmark rate for financial transactions across the world, dropped below 1% for the first time on Tuesday. This came after Federal Reserve slashed interest rate by 50 bps in an emergency move to limit the coronavirus impact. The benchmark 10-year Indian bond yield dropped 8 bps to 6.26%.