|3-Month||0.000||09/29/2011||0.02 / -0.01||-0.020 / -0.020||
Take a close look at the yield depiction of the 3 month T-Bill. That is not a misprint. Negative nominal rates are their own very special "Scarlett Letter." The interview no one got today was with the hapless soul who paid it. Does the security come with lunch with Sec. Geithner?
I find it funny that Portugal's debt rating is tossed around as the reason for the US Guaranteed Loss Security. Flight to quality? Laughable. Interbank forwards (Eurodollar futures) saw their biggest drop in implied yield in a week. A couple of days in the real world and everyone's opting back into the Matrix.
Here's what I know:
Casey Anthony did it.
Portugal doesn't matter.
The T-Bill above is a loser.