US Treasury yields drop to lowest since 2017 on global economic worries

The 10-year US Treasury note yield slipped on Thursday to 2.34 percent, its lowest since December 2017, on worries about a global recession and after the Reserve Bank of New Zealand (RBNZ) embraced a dovish tone on interest rates.

The dollar edged up on Thursday as many of its peers weakened after more central banks shifted to dovish policy stances amid a deteriorating global economic outlook.

On Wednesday, the Reserve Bank of New Zealand (RBNZ), stunned markets by saying the next move in rates is likely to be down, joining a growing list of central banks that had turned dovish.