[ml/nj]

For the fourth time in a row, the Treasury has sold off short-term bills bearing no yields at all.

This has to be a scam.

I cannot see any reason to exchange paper negotiable now for paper not negotiable until three months from now, without any compensation.

UNLESS you happen to be the Federal Reserve and you are merely exchanging I-O-MEs with the Treasury.

ML/NJ

[AndyJackson]

exchanging I-O-MEs with the Treasury

Finally someone on this forum has caught on.

[Toddsterpatriot]

I cannot see any reason to exchange paper negotiable now for paper not negotiable until three months from now, without any compensation.

Where are you holding your negotiable paper now? Is it safe? Are you sure?