U.S. Treasury yields plunged to unprecedented levels on Friday as investors, seeking refuge from the turbulent economic climate, poured money into government bonds.

The yield on the 10-year Treasury note, a benchmark for many other interest rates, hit a record low, reflecting the intense demand for U.S. government debt. This flight to safety is indicative of widespread anxiety about the health of the global economy and the stability of financial markets.

Analysts attributed the rush to Treasuries to a confluence of factors, including:

• Growing fears of a prolonged recession.
• Continued volatility in the stock market.
• Lingering concerns about the health of the financial system.

The lower yields translate to lower borrowing costs for the U.S. government, but they also signal a lack of confidence in the economic outlook. Investors are essentially willing to accept very low returns in exchange for the security of holding U.S. government debt.

The trend is expected to continue as long as economic uncertainty persists, with investors likely to remain risk-averse and prioritize safety over higher returns.