1 Month Bill: -0.005%... Again
When we observed the 1 month Bill auction yesterday which priced at a 6 week high of 0.002% we speculated, incorrectly, that the market may be starting to get concerned about the whole debt ceiling thing (which has 8 days until the legislative D-Day of July 22), especially following the John Boehner quote just carried by AP that "there is no guarantee of a debt limit raise if no deal by August 2." And yes, the deadline by which Congress has to pass this law is 10 days prior. But anyway: as of minutes ago, this 4 week bill which saw some "weakness" yesterday is back to where it was a week ago: -0.005%. Translation: Uncle Sam will gladly take your money to take your money.
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