Negative Rate Posted on a T-Bill Auction

[haha]

Just a point of clarification. The actual auction itself did not result in a negative rate on 3-month bills. The auction result was a discount of 0.005% and an issue price of 99.998736.

Auction Results

Evidently, it was in subsequent trading that the bills traded above par, resulting in a negative rate to some buyers in the secondary market.

I noticed that after I posted the heading, but as far as I know you can't change a headline so I let go. Both would seem to suggest the same things- extreme fear, or mass psychosis.

Ha