Expect U.S. Treasury yields to keep hitting new record lows, Rebecca Patterson, chief investment officer at Bessemer Trust, said Monday.
"It feels to me the U.S. 10-year [yield], I don't know when, but I think we're going to break 1 percent," Patterson told CNBC's "Squawk Box." "The question is when. Does it happen sooner because we have bigger consequences of Brexit and Italian banks … that causes a flight to safety? Or does it happen later, over the next two-to-three years, when we eventually get the next recession?"
The U.S. 10-year yield hit a fresh record low, near 1.33 percent late Thursday, following other sovereign yields lower, as the United Kingdom's vote to leave the European Union has plagued the markets with uncertainty, leading investors to buy so-called safe-haven investments.
US 10-year yield in past 3 monthsSource: FactSet