Pedestrians Reflected in a Window in a Tokyo Securities Depository August 30, 2017.
Toshifumi Kitamura | AFP | Getty Images
The return on 10-year government bonds in major Asian markets has dropped sharply as the recession tempts investors who are streaming into assets. Interest rates are falling in pace.
Here's a look at how each market's 10-year government bond yield has fallen by Thursday morning, versus a week ago and the beginning of the month.
Recession fears have roiled markets. The return on the benchmark index for the 10-year Treasury broke below the 2-year yield early Wednesday, which is a phenomenon in the bond market that has been a reliable, albeit an early indicator of economic downturns.
The yield on the US 30-year bond also fell to a new low.
In the United States, investors have also rushed into bonds. The iShares 20+ year government bond ETF, TLT jumped 2.1% on Monday, the biggest gain in a year.
Commenting on the recent inversion of the US yield curve, former Federal Reserve leader Janet Yellen said Wednesday that "it may be a less good signal" this time.
"The reason for that is that there are a number of factors other than the market's expectations of the future path for interest rates that are pushing long-term returns," Yellen told Fox Business Network.
– CNBC's Eustance Huang, Thomas Franck, and Patti Domm contributed to this report.