Tuesday, December 9, 2008

Say what? Yep a negative T-bill rate

From Bloomberg.com: Treasury Bills Trade at Negative Rates as Haven Demand Surges :"Treasuries rose, pushing rates on the three-month bill negative for the first time, as investors gravitate toward the safety of U.S. government debt amid the worst financial crisis since the Great Depression.The Treasury sold $27 billion of three-month bills yesterday at a discount rate of 0.005 percent, the

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