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Jeff Snider: The Credit Crunch Is Here As Ultra Rare Bond Market Signal Flashes Red For First Time Since 2008
Forward Guidance
The Value of Treasury Bills in the Money Market
The three month treasury yield is now yielding over 5% or something like the federal funds rate, which is in high 4%, a little bit less than 5%. So 4.8% you can get just by parking your money at the Fed for the reverse repo or IOR for Fed funds market - that's between other banks. But then you have a one month treasury bill trading over 100 basis points. And the demand is extreme.
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