Negative T-Bills?
December 11, 2008 at 17:38 PM EST
I’m on record as saying that I think Treasury bonds have no logical lower limit in yield. While its conceptually hard to be bullish on the 10-year at 2.60%, the threat of deflation completely changes the game. However, there should be one logical limit on any bond, and that’s zero. You can’t possibly be willing to [...]