The Treasury sold 1 month bills today at a yield of, believe it or not- 0.00% and the issue was for $30 billion, but there were $270 billion of buyers lined up, 9:1.
Unless I'm really missing something, this looks like some big money in the very short term would rather park their money at the Treasury at 0% interest then have it in a bank, afraid of a banking collapse? And remember, these are 1 month bills!
Something definitely is amiss.
5 years ago
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