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This is the chart of absolute change in the three month treasury bill rate from one day to the next as of Thursday, October 18, 2007.
Here's the list of recent three month treasury bill rates (including the percentage of the drop from the previous day in parentheses).
October 15th: 4.30%
October 16th: 4.25% (-1.16%)
October 17th: 4.01% (-5.65%)
October 18th: 3.76% (-6.23%)
From 4.25% to 3.76% in just two days? Okay, what spooked investors this time? The resilience of the American economy being tested in the face of $90 oil? Two butterflies colliding mid-air over a ethanol producing corn field in Nebraska? The itchy trigger fingers of 9,000+ hedge funds (some of which do not have Nobel prize winning economists)? The world may never know.
Unfortunately, today is Friday, October 19, 2007. If today's stock market and/or recent treasury bill volatility is any indicator, we just hit another pocket of turbulence.
Shanna, they bought their tickets, they knew what they were getting into. I say, let 'em crash. - Jack Kirkpatrick, Airplane!, 1980
See Also:
Treasury Bill Volatility
Source Data:
Federal Reserve: Selected Interest Rates
2 comments:
Thanks,
sleep deprived
sleep deprived,
http://www.mattress.com/Howdidyousleeplastnight/siesta.aspx
In Spain, you are allowed to sleep for two or three hours during the heat of the afternoon, and businesses are closed from 2 to 5. This is the famous Spanish siesta, and the Spanish adopted the tradition as a way of coping with the intense heat. The Spanish insist that you go to sleep for a few hours every day.
I am completely rethinking the notion that there is a Spanish housing bubble!
January 1, 2006
http://www.iht.com/articles/2006/01/01/news/spain.php
MADRID: When Spain's government employees report to work Monday, they will be forced to abandon a tradition that has typified Spanish life for decades. Instead of taking the customary two or three hours for lunch, they will be allowed only one.
Nevermind.
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