According to the Yahoo Finance site, 13 week T bills are quoted with a yield of 3.3%. I double-checked secondary offering prices/yields through fidelity.com and this seems to be fairly accurate.
What does this mean? This represents a drop of about 1% in the yield since yesterday. Is this a flight to quality driving the prices up and yield down?
I have never seen the 13 wk t bill rates move this much this fast before. Broader implications, if any? Or just a blip on the radar?
I've been following the cleveland fed's FOMC interest rate predictor page for a while, and yesterday represented a pretty steep drop in expected rates in the next few months. The chances of rates staying at 5.25% are increasingly slim, and there is a good chance of a greater than .25% cut at or before the next meeting in September.
(as a side note, good thing I have that ARM!