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Interesting T-Bill Movements; also Fidelity reportedly sold its MM short term US debt
Old 10-10-2013, 10:34 AM   #1
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Interesting T-Bill Movements; also Fidelity reportedly sold its MM short term US debt

Stocks soar on hopes for deal to avoid US default - Yahoo Finance

"There were hopeful signs in the market for short-term U.S. government debt early Thursday. The yield on the one-month Treasury bill dropped to 0.17 percent from 0.27 late Wednesday.
The yield had spiked from near zero at the beginning of the month to as high as 0.35 percent Tuesday as investors dumped the bills out of concern that the government might not be able to pay them back when they're due. Investors demand higher yields when they perceive debt as being risky."

Such lush yields! We are dead center in the ownership society, though what we own doesn't seem to yield us much.


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Old 10-11-2013, 09:10 AM   #2
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MMs are dumping because they'd have to write down to zero those bills once they don't pay on time, thus "breaking the buck". Regular bond funds snatching them up as they don't have this worry.
Why would anyone own a MM fund at these rates anyways?
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