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" ... There's slack in the jobs market and there's slack in the economy and it's triggering a run into Treasury paper. At 1.99%, the yield on the 10-year Treasury note closed below 2% for the first time ever. It didn't even do that in 2008-2009. I hope somebody else is wryly similing at the irony of yields plunging into the basement four weeks after Standard & Poor's downgrades U.S. debt as risk-averse investors pile into the safest stuff they can think of. ... "