BOSTON, Feb 21 (Reuters) - U.S. Treasury yields were down on Friday as mounting concerns about the economic impact of the coronavirus epidemic drove investors into safe-haven assets.The benchmark 10-year yield was down 6.9 basis points in morning trade at 1.4561%.It was the first time the note yielded less than 1.5% since early September. Analysts said the breach of the barrier showed investors' growing concern as cases of the virus mount beyond China, including in South Korea and Japan. "Everybody is trying to figure out how bad this will be," said Jon Hill, U.S. rates strategist for BMO Capital Markets. He noted how the move below 1.5% first occurred during European trading hours and corresponded with negative coronavirus news, indicating traders were focused on the epidemic rather than economic data.Yields took another step down after a survey of purchasing managers on Friday morning showed U.S. business activity in both the manufacturing and services sectors stalled in February as companies grew increasingly concerned about the coronavirus.U.S. Speaking on CNBC, Atlanta Federal Reserve Bank President Raphael Bostic said the U.S. economy is set to grow at a 2.00% to 2.25% annualized rate this year and any disruption to activity from the coronavirus outbreak will be short-lived.The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 5.3 basis points at 1.342% in morning trading.

Source: Economic Times February 21, 2020 15:22 UTC