Here’s a sad bit of news, investors are so shaken that they’re willing to put their money into Treasury bills — even if it means losing money.

The NYT says:

Investors were so desperate to put their cash into government notes that they were willing to pay a penalty for the privilege: three-month notes traded at a negative yield, meaning that investors will receive about 99 cents on the dollar in return after the note matures.

This is, of course, good for the Treasury — the influx of cash will help with the ambitious bailouts and public works programs that the government is considering.

As Markets Waver, Treasury Yield Turns Negative [NYT]
(Photo: schodts )

Want more consumer news? Visit our parent organization, Consumer Reports, for the latest on scams, recalls, and other consumer issues.