Uncle Sam: Pay me for T-bills!

Interest rates T-bills turned negative on Tuesday.

Here's a FT story.

The FT reports that the implied yield for three-month bills briefly traded at negative 0.01 per cent – the first time that has happened since 1940, citing traders.

(Blogger note: The FT said in Tuesday's print edition that a T-bill issue on Monday sold for a zero-percent rate, first time that happened since 1934. Not sure if that jives with the 1940 date cited above. .. But clearly, we're in a Treasury security "bubble". ... I've been selling TIP and TLT.)