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Flight to Quality: 3m T-bill Reached 50-year Low

Treasuries rose and three-month bill rates plunged to the lowest level in almost 50 years on speculation credit market losses will widen, prompting investors to seek the relative safety of government debt. The rate on the three-month bill, viewed by investors as a haven in times of trouble, dropped 32 basis points, or 0.32 percentage point, to 0.56 percent. It’s the lowest level since May 1958.

(click to enlarge)