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Flight to quality means flight away from government bonds in Eurozone, except Germany.
Oil price slide has central bankers around the world, particularly at the ECB, worried about their ability to mitigate deflation risks.
As traders speculate rates won't rise till December 2015, Treasuries' yields fall most in five years.
Big setback in energy sector is driving junk bonds down by as much as 19 percent.
World's biggest banks may need to come up with as much as $870 billion to comply with upcoming capital rules.