Tuesday, December 9, 2008

Treasury sells 3 month bills at lowest level since 1929

Speaking of credit markets, here is a stunning example of the flight to safety. That's Bloomberg's headline. Here are the auction results via FT Alphaville:
In case you missed Monday’s news, the US Treasury sold $27 billion in three-month bills at the lowest rate since it started auctioning the securities in 1929.