Scott Mlyn | CNBC
CNBC’s Jim Cramer said Wednesday he can’t come up with a reason for why American investors would be buying 10-year U.S. Treasurys right now.
The yield on the benchmark note dropped to 1.3% at 8:40 a.m. ET, the lowest level since late February. As recently as mid-May, the 10-year Treasury yield touched 1.7%, before beginning a steady fall.
Appearing on “Squawk Box,” Cramer suggested that foreign buyers piling into U.S. bonds could be the driving force in pushing rates down. Yields move inversely to price.