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BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!

 
Anonymous Coward
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12/08/2008 03:13 PM
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BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Treasury Sells Three-Month Bills at the Lowest Rate Since 1929

By Michael J. Moore and Liz Capo McCormick

Dec. 8 (Bloomberg) -- The Treasury sold $27 billion in three-month bills at the lowest rate since it starting auctioning the securities in 1929 amid record demand for the safety of U.S. debt during the worst financial crisis since the Great Depression.

The bills were sold at a high discount rate of 0.005 percent, the Treasury said today in Washington. At last week’s auction, the bills drew a rate of 0.05 percent. The government received bids for the bills totaling more than triple the amount sold.

“It’s all about capital preservation,” said John Canavan, a fixed-income analyst in Princeton, New Jersey, at Stone & McCarthy Research Associates. “People are afraid to put their money anywhere else so they aren’t terribly concerned about returns.”

The Treasury also sold $27 billion in six-month bills at a high discount rate of 0.30 percent, the lowest since at least 1958. At last week’s auction, the six-month bills drew a rate of 0.43 percent.

The rate on three-month bills peaked at 16.75 percent in May 1981, according to Federal Reserve data. Today’s rate was the lowest since the government began issuing the three-month bills in 1929, according to Stephen Meyerhardt, a spokesman for the Bureau of Public Debt in Washington.

“There are also deflation concerns,” Canavan said. “Although we are at a near-zero yield, if you are expecting a deflationary environment over the next few months, then the real return is a little bit better.”

Record Lows

Yields on two-, 10- and 30-year securities declined last week to the lowest levels since the Treasury began regular sales of the debt after a report showed U.S. employers eliminated jobs in November at the fastest pace in 34 years and the Fed contemplated buying U.S. debt as the recession deepened.

President-elect Barack Obama said Dec. 6 he will boost investment in roads, bridges and public buildings to create or preserve 2.5 million jobs in the biggest public-works spending package since the 1950s.

The return to investors is 0.005 percent for the three- month bills, with a $10,000 bill selling for $9,999.87. The return to investors is 0.3 percent for the six-month bills, with a $10,000 bill selling for $9,984.83.

Treasury bills, which represent short-term government borrowing, are sold at a discount from maturity value. The amount paid to investors at maturity reflects the difference between the price paid for a bill and the par value.

Indirect Bids

The Treasury sells all its bills, notes and bonds on a single-price basis, in which securities are awarded at the highest rate needed to sell all the securities.

In the three-month maturity, 82.98 percent of the bids that were filled came in at the high discount rate of 0.005 percent. The low rate submitted was zero percent, the median rate was zero percent, and the investment rate was 0.005 percent. The price was 99.998736.

Indirect bidders, a group that includes foreign central banks, bought 57.6 percent of the three-month bills and 27.1 percent of the six-month bills. Primary dealers bought 42.1 percent of three-month bills and 72 percent of the six-month bills.
Anonymous Coward
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12/08/2008 03:20 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
WOW!!!!!!!!!!!!!!!!!


Officially:
And So it begins............
Anonymous Coward
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12/08/2008 03:39 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Dow should to go of 9.000 to 2.000 in few days.This is the end of the imperium.
Anonymous Coward
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12/08/2008 03:53 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
so would you still go to those treasuries for safety???

I understand that I wouldnt be making money but as far as hanging on to it its as safe as it gets right?

Barring complete collapse of government....
Anonymous Coward
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12/08/2008 04:00 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Dow should to go of 9.000 to 2.000 in few days.This is the end of the imperium.
 Quoting: Anonymous Coward 568343

how come its flying up today then?
Anonymous Coward
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12/08/2008 04:01 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Dow should to go of 9.000 to 2.000 in few days.This is the end of the imperium.
 Quoting: Anonymous Coward 568343


How do you come to that conclusion?
Kanigo2

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12/08/2008 04:04 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Muhahahahahaha.
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Kanigo2

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12/08/2008 04:06 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
chuckle

1rof1
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Anonymous Coward
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12/08/2008 04:07 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
kanigo...let us hear your treasury run down.

I know you've been keeping up with it very well.

Are they safe in this time of craziness?
Anonymous Coward
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12/08/2008 04:15 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
kanigo...let us hear your treasury run down.

I know you've been keeping up with it very well.

Are they safe in this time of craziness?
 Quoting: Anonymous Coward 387092


I want to know what you think too.
Anonymous Coward
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12/08/2008 04:19 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Serious question, my grandparents, God rest their souls, began buying me a 10-year Treasury note on my birthday about 15 years ago. This lasted about 10 years.

My question is, does this insane drop in the t-bill rates effect my t-bills from 5-10 years ago? Should I cash these notes out now since the interest is going to be so low, or were my rates locked in when the t-bills were bought?

Any advice would be appreciated and you will be personally thanked.
Dolomite
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12/08/2008 04:21 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Dow should to go of 9.000 to 2.000 in few days.This is the end of the imperium.
 Quoting: Anonymous Coward 568343




Dow should go down???? Why???? cuz T-Bill interest rates are low...so what? T-Bill rates actually went negative for a few hours a couple of months ago. One has nothing to do with the other.
Kanigo2

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12/08/2008 04:21 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
kanigo...let us hear your treasury run down.

I know you've been keeping up with it very well.

Are they safe in this time of craziness?
 Quoting: Anonymous Coward 387092



Absolutely safe, no matter where the dollar ends up on the index.

No treasury Bill or bond has ever, not been redeemed.


But as ya can tell, if the dollar crashes, the market will shoot up.

You can always take the "bills" you personally purchesed and asked them to be "redeemed" w/service fee of course, unless you have a treasury account.

at what ever/pro-rata(percentage of the total) value you have invested in them.

I am laughing because I wonder if and when the bubble will burst under this rate driving the market.
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Lester

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12/08/2008 04:25 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Soon you will paying TPTB to give you back the dollars which will lose 25% a year to inflaton.

What a deal!

Does anything still make sense in the financial realm besides goods and precious metals?
Kanigo2

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12/08/2008 04:26 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Dow should to go of 9.000 to 2.000 in few days.This is the end of the imperium.




Dow should go down???? Why???? cuz T-Bill interest rates are low...so what? T-Bill rates actually went negative for a few hours a couple of months ago. One has nothing to do with the other.
 Quoting: Dolomite 101285



Well they actually did, see thats the other funny thing, we were using that as a market indicator for people running to safety, because when the yeilds would go down, the market would crash/and shoot up, like a double negative peak.


Ever since this Citibank deal and the quantitive easing.


There is no market.


And we cannot use it anymore, for how the market is going to perform.

But they are still running for safety...LOL
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Kanigo2

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12/08/2008 04:30 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Soon you will paying TPTB to give you back the dollars which will lose 25% a year to inflaton.

What a deal!

Does anything still make sense in the financial realm besides goods and precious metals?
 Quoting: Lester



Even that is a lie, all we have left is what value one currency has to another.

BUT---and a Giant BUT...


The Chinese just degraded their currency in the last day.



So now what do we look for?




Anyone? Do even the gold bugs believe that that market isnt being manipulated?



Everything we hear is a lie, they want us to go back to sleep.
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Lester

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12/08/2008 04:31 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Serious question, my grandparents, God rest their souls, began buying me a 10-year Treasury note on my birthday about 15 years ago. This lasted about 10 years.

My question is, does this insane drop in the t-bill rates effect my t-bills from 5-10 years ago? Should I cash these notes out now since the interest is going to be so low, or were my rates locked in when the t-bills were bought?

Any advice would be appreciated and you will be personally thanked.
 Quoting: Anonymous Coward 533607



NO! Your bonds will redeem at their face value with interest accrued.

NOW would be a great time to sell those bonds, as the premium they will earn for higher interest rate and prompter maturity makes them Extremely Valuable to whatever idiot is buying bonds right now.

It must be a real bitch to try an manage money when the value of it is diminishing daily in terms of quality goods available for purchase.

Of course, if you have set obligations and cannot foresee a market collapse, bonds are a safehaven.


There is nothing but insanity afoot in the financial landscape of the USA. Wonder how much cash value life insurance Northwestern Mutual Life is selling these days? Always somebody out there wants to believe in things of this world.

Good luck with your bonds.
Anonymous Coward
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12/08/2008 04:32 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Serious question, my grandparents, God rest their souls, began buying me a 10-year Treasury note on my birthday about 15 years ago. This lasted about 10 years.

My question is, does this insane drop in the t-bill rates effect my t-bills from 5-10 years ago? Should I cash these notes out now since the interest is going to be so low, or were my rates locked in when the t-bills were bought?

Any advice would be appreciated and you will be personally thanked.
 Quoting: Anonymous Coward 533607


Admittedly I am the ignorant one here. Just looking for some advice from those smarter than me on how to save the most money.
bump
Kanigo2

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12/08/2008 04:36 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
But what is the SMART money doing, and what is in demand, Everyone dont answer at once.


Treasury bonds.



In fact, in record numbers.


Look around you....Everyone.



What TWO things are being bought sold and shorted.


Currencies for other countries(like greece and balkan states) and higher yeild bonds ,like the 10 are being shorted.

In anticipation, of them drawing an even lower yeild.


This is currency war-full fledged battle royal currency war.
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Anonymous Coward
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12/08/2008 04:36 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Flight to safety. What's the big deal?
Anonymous Coward
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12/08/2008 04:38 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
NO! Your bonds will redeem at their face value with interest accrued.

NOW would be a great time to sell those bonds, as the premium they will earn for higher interest rate and prompter maturity makes them Extremely Valuable to whatever idiot is buying bonds right now.

It must be a real bitch to try an manage money when the value of it is diminishing daily in terms of quality goods available for purchase.

Of course, if you have set obligations and cannot foresee a market collapse, bonds are a safehaven.


There is nothing but insanity afoot in the financial landscape of the USA. Wonder how much cash value life insurance Northwestern Mutual Life is selling these days? Always somebody out there wants to believe in things of this world.

Good luck with your bonds.
 Quoting: Lester


Thanks, I guess I will hold onto them until I really need the money. Good to know they will redeem at face value + interest even if the economy takes a shit. Of course, $100 won't be much if the dollar goes down hard, but I don't have any other investment ideas for that thousand bucks or so...
Kanigo2

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12/08/2008 04:41 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
NO! Your bonds will redeem at their face value with interest accrued.

NOW would be a great time to sell those bonds, as the premium they will earn for higher interest rate and prompter maturity makes them Extremely Valuable to whatever idiot is buying bonds right now.

It must be a real bitch to try an manage money when the value of it is diminishing daily in terms of quality goods available for purchase.

Of course, if you have set obligations and cannot foresee a market collapse, bonds are a safehaven.


There is nothing but insanity afoot in the financial landscape of the USA. Wonder how much cash value life insurance Northwestern Mutual Life is selling these days? Always somebody out there wants to believe in things of this world.

Good luck with your bonds.
 Quoting: Lester



If you wait till they come to term-and that is where your wisdom is paying off lester.

That redemption value is never less, than what you originally paid for the bond and you do not have to hold to yeild to redeem it.

But in the meantime- there is a backroom battle on a global scale over what those currencies will be worth.

For example if you pay 99.99876 for a 100$ bond.

In three months, or two, or even 3 days when you redeem it, It may not be worth half, what the YEN was worth when you bought it.




Bingo. Don't let go of that thought Lester, what you have there is wisdom.
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Anonymous Coward
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12/08/2008 04:42 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
But what is the SMART money doing, and what is in demand, Everyone dont answer at once.


Treasury bonds.



In fact, in record numbers.


Look around you....Everyone.



What TWO things are being bought sold and shorted.


Currencies for other countries(like greece and balkan states) and higher yeild bonds ,like the 10 are being shorted.

In anticipation, of them drawing an even lower yeild.


This is currency war-full fledged battle royal currency war.
 Quoting: Kanigo2


Hmmm are you sure you know what you're talking about? I mean - Greece uses Euros so I'm thinking...no you don't.
Anonymous Coward
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12/08/2008 04:45 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Serious question, my grandparents, God rest their souls, began buying me a 10-year Treasury note on my birthday about 15 years ago. This lasted about 10 years.

My question is, does this insane drop in the t-bill rates effect my t-bills from 5-10 years ago? Should I cash these notes out now since the interest is going to be so low, or were my rates locked in when the t-bills were bought?

Any advice would be appreciated and you will be personally thanked.



NO! Your bonds will redeem at their face value with interest accrued.

NOW would be a great time to sell those bonds, as the premium they will earn for higher interest rate and prompter maturity makes them Extremely Valuable to whatever idiot is buying bonds right now.

It must be a real bitch to try an manage money when the value of it is diminishing daily in terms of quality goods available for purchase.

Of course, if you have set obligations and cannot foresee a market collapse, bonds are a safehaven.


There is nothing but insanity afoot in the financial landscape of the USA. Wonder how much cash value life insurance Northwestern Mutual Life is selling these days? Always somebody out there wants to believe in things of this world.

Good luck with your bonds.
 Quoting: Lester




"NOW would be a great time to sell those bonds, as the premium they will earn for higher interest rate and prompter maturity makes them Extremely Valuable to whatever idiot is buying bonds right now."

Could be an unwise choice if you don't know what you'll do with the cash.
Anonymous Coward
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12/08/2008 04:46 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Just think, we are deficit spending like drunken sailors and they are gonna give us zero interest terms!!!!!!!

You gotta love this country! This World!

Thanks Central Bankers! We promise never to default!
Kanigo2

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12/08/2008 04:47 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Hmmm are you sure you know what you're talking about? I mean - Greece uses Euros so I'm thinking...no you don't.
 Quoting: Anonymous Coward 550745


There is intent behind what I am saying- This is based upon the GNP of the countries in question vs their ability to pay.

Dont count on that Euro, there are other currencies in that country.

The worst offenders are, Ireland and Italy.

There are also countries that sit outside the zones- that are being destroyed as we speak, All I am doing is pointing to the wave, that just breached the shoreline, and its a big bastard.
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Anonymous Coward
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12/08/2008 04:48 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Do you people get hard-ons just because you see 1929?
Kanigo2

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12/08/2008 04:50 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
"NOW would be a great time to sell those bonds, as the premium they will earn for higher interest rate and prompter maturity makes them Extremely Valuable to whatever idiot is buying bonds right now."

Could be an unwise choice if you don't know what you'll do with the cash.
 Quoting: Anonymous Coward 568378



In fact , it is a great time to buy them, Now you understand what Citibank did with that (I heard it was 20 billion, then I heard it was 45 billion).

Of "quantitative easing".


Getting toxic assets off your books and owning treasuries with yeild.


Priceless.
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Kanigo2

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12/08/2008 04:58 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
I do believe, everyone is starting to see.


There is no-one alive that I can even talk to about it.




Except, for you fine folks.




All I can do is criticize and ridicule it.



Can anyone here believe we live in these times?laugh
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Anonymous Coward
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12/08/2008 05:06 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
Can anyone here believe we live in these times?laugh
 Quoting: Kanigo2

LOL Do we have a choice?

So what do you know about the Irish thing? Are they holding up?

If I were shopping for bonds, would I want the 3 month, or the 10 year? Seems like the short term would be better, but I don't know what I don't know.
Anonymous Coward
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12/08/2008 05:09 PM
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Re: BREAKING*** 3 MONTH T-BILLS AT LOWEST RATES SINCE 1929!!!!
I do believe, everyone is starting to see.


There is no-one alive that I can even talk to about it.




Except, for you fine folks.




All I can do is criticize and ridicule it.



Can anyone here believe we live in these times?laugh
 Quoting: Kanigo2


That's like asking if anybody can believe how stupid human beings are. Or how crazy. Or how bizarre.

Yeah I can believe we created this mess. Hell 2/3 of the folks on Earth will kill other people's babies over some imaginary God.

There is pretty much no limit to stupid human tricks.

We discover the technology to build a weapon that can destroy mankind and immediately set out to build 24,000 of them. As fast as possible.

We discover the means to alter genes and then just start doing it with no oversight or regulation at all. AND we release this stuff directly into the environment. Then we immediately try to eliminate all competitive strains that aren't randomly modified.

We are some crazy barbaric motherfuckers! We should all be in jail for the good of society.

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We're dropping truth bombs like it's the end of days!