The Treasury market announced a broad-based price rally Monday as investors sought after safety in low-risk U. S. government debt on growing worries about the global economic outlook.

The 10-year note's yield, the benchmark for corporate and consumer borrowing, touched 2.579%, the weakest level since March 2009. The 30-year bond's yield hit 3.736%, the lowest level since April 2009.

Longer-maturity bonds led the decline on speculation separate figures will show producer prices rose last month, easing concern the U. S. is heading for a period of deflation. The Federal Reserve is scheduled to buy Treasuries due from August 2014 to July 2016 today, reviving its purchases to spur the slowing U. S. economy by keeping borrowing costs down.

“Buying now is a big risk,” said Hiroki Shimazu, an economist in Tokyo at Nikko Cordial Securities Inc., a unit of Japan’s third-largest publicly traded bank. “I don’t recommend it. The economy is stable.”

As of 1:12 p. m. EDT, the benchmark 10-year note was 20/32 higher in price to yield 2.607%, and the 30-year bond was 1 28/32 higher in price to yield 3.757%. The two-year note was up 2/32 to yield 0.504%, near a record low of
0.486% hit on Aug. 11. Bond prices move inversely to yields.

“Buying now is a big risk,” said Hiroki Shimazu, an economist in Tokyo at Nikko Cordial Securities Inc., a unit of Japan’s third-largest publicly traded bank. “I don’t recommend it. The economy is stable.”

As high-yield debt issuance fell back to its customarily slow August levels, two auto-sector bonds hit the market. In the meantime, the yield on the 10-year Treasury notes hit 2.59%, the weakest since March 2009, setting a new note for corporate and consumer borrowing. Meanwhile in high-grade, Moody's Corp. brought its debut bond offering and the CDX North American Investment Grade Index series 14 softened towards the close.