The interest rate on the U.S. government's 10-year Treasury fell below 2 percent on Tuesday for the first time since mid-October, as fears over global growth led a flight to safety.
Investors continued to buy sovereign debt amid the selloff in equities with the U.S. 10-year yield falling for a seventh straight session. The 30-year yield fell to 2.504 percent, its lowest since mid-2012. Yields have an inverse relationship to bond prices and fall when investors flock to a so-called safe haven asset.
The 10-year Japanese government bond yield broke through 0.30 percent overnight to reach another record low.
Meanwhile, the German 10-year Bund continued its path below 0.5 percent to reach a new record low of 0.447 percent amid weak volume in Europe with many countries celebrating the Epiphany holiday on January 6.