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U.S. bond yields hit record low on recession fears

WASHINGTON — US Treasury bond yields plunged Thursday, with the 10-year yield hitting a record low as worries about a new recession in the United States and Europe battered stock markets. The 10-year Treasury yield fell to 1.974 percent, lower than the previous record during the US “Great Recession,” before…

China says U.S. fails to defuse ‘debt bomb’

China warned Wednesday that tortured efforts to raise the US limit on borrowing had failed to defuse Washington’s “debt bomb”, and signalled it would further diversify its holdings away from the dollar. After months of bitter negotiations with his Republican rivals, US President Barack Obama finally signed an emergency bill…