US 30-year bond yield breaks below 3 percent

NEW YORK: The yield on US 30-year Treasuries yield on Tuesday fell below 3 percent for the first time since spring 2013 due to safe-haven demand spurred by the recent sell-off in the stock market and growing worries about a weakening global economy.

In early U.S. trading, the 30-year Treasuries yield touched a session low of 2.943 percent at 5:59 a.m. (0959 GMT), according to Reuters data. This compared with a closing level of 3.009 percent on Friday.

The 30-year yield was last 2.959 percent, hovering at its lowest level since early May 2013.

The U.S. bond market was shut on Monday in observance of the Columbus Day holiday.