Australian treasury yields hit a record low in a grim portent for the economy, while the Nikkei falls 3% in wider share selloff

Shares in Asia Pacific have slumped after a key market indicator flashed an “amber warning” that the United States is heading for a recession.

Bond yields also continued to fall across the world with Australian 10-year treasury yields falling to a record low on Monday of 1.756% in what analysts see as a strong indicator of a downturn hitting the resource-rich country.

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