Should this cycle last as long, they said, yields could continue to decline into next year.
Long-term yields on corporate and other bonds also continued to move lower to levels that have not been seen for almost 30 years.
And the yields have continued to rise since June.
Some of the money going into the consumer funds may be coming from banks, where yields continue to erode.
Yields on shorter notes also continued to exceed those offered by the long bond.
The yield on the 30-year Treasury bond continued to slide, but short-term interest rates moved a little higher.
If yields continue at these levels, you ask yourself, does it matter that much that stock prices have risen?
If no war breaks out in the Persian Gulf, he said, yields could continue to fall throughout the year.
"Until the Fed can make a determination on policy, yields will continue to drift with a downward bias."
Yields on tax-exempt and taxable money market funds continued to decline.