TREASURIES-US 10-year notes yield below 2 pct for first time

NEW YORK Thu Aug 18, 2011 10:16am EDT

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NEW YORK Aug 18 (Reuters) - U.S. Treasuries prices soared on Thursday and benchmark 10-year note yields fell below 2 percent for the first time as investors snapped up the government bonds on fears over a global economic slowdown.

The benchmark notes US10YT=RR were last up 1-14/32 in price to yield 2.01 percent after dropping as low as 1.98 percent, the first time the debt has ever yielded below 2 percent. The previous record low was around 2.04 percent.

Thuirty-year bonds US30YT=RR also leaped over three full points in price with yields plunging to 3.38 percent, down from 3.57 percent on Wednesday. (Reporting by Karen Brettell; Editing by Theodore d'Afflisio)