U.S. 10-year yields fall to record low on BofA cut

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U.S. 10-year yields fall to record low on BofA cut
NEW YORK (MarketWatch) -- U.S. 10-year yields fell to a record low midday Wednesday after Moody's Investors Service cut its rating for Bank of America Corp. , sending stocks lower and increasing the appeal of U.S. Treasury bonds. Yields on 10-year notes , which move inversely to prices, fell as low as 1.8756%, according to FactSet Research, setting a new record low. They lately traded off 5 basis points to 1.89%.