These days, nothing can be enough
Written on December 12, 2008
WASHINGTON–Interest rates on four-week U.S. Treasury bills fell to zero yesterday, as investors still sought the safety of government securities without any return on their money.
The U.S. treasury department said it sold $30 billion (U.S.) in four-week bills at the interest rate of zero per cent.
That meant investors were willing to earn no return on their money at all as long as they could park their investments in the safety of Treasury securities.
The rate was down from 0 low cost car insurance.04 per cent at last week’s government auction of four-week bills.
The zero per cent rate is a record low; the government began issuing the four-week bills in July 2001. Reflecting high demand, the amount in bids for the four-week bills was four times the amount sold at the auction.
Associated Press
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