Plunging yields force investors and Fed to rethink strategy

Interest rates on a range of U.S. government bonds have plunged to all-time lows as investors seeking relative safety from stocks have furiously snapped them up .The yield on the 10-year Treasury — a benchmark for mortgages and other consumer debt — was 1.9% as recently as Dec. 24.“The bond market is already pricing in a worst-case scenario — a U.S. and global recession,” said Scott Anderson, chief economist at Bank of the West.