Friday, 12 December 2008

Paying the government to mind your money

You just know that things have got to be serious when some people are prepared to pay the government to hold on to their money for them. I know it sounds mad but I'm a sucker for listening to news of the financial crisis and I keep hearing on Bloomberg that three month US Treasury notes occasionally sell at a negative yield. They rallied somewhat this morning to close yielding a magnificent 0.01%.
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