10-year U.S. yields fall further below 3-mth bills

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SYDNEY, March 25 (Reuters) – Yields on benchmark U.S. 10-year treasury notes fell further below three-month rates in Asia on Monday, an inversion that has in the past signalled the risk of economic recession.

U.S. 10-year treasury yields were last 1.9 basis points (bps) below three-month rates compared to 0.07 bps late on Friday in New York.

The yield curve inverted on Friday for the first time since mid-2007.

Chicago Federal Reserve Bank President Charles Evans said on Monday it was a good time for the U.S. central bank to pause and adopt a cautious stance even though the economy remains in a strong position. (Reporting by Wayne Cole and Swati Pandey; Editing by Kim Coghill)

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