Traders Are Panic-Selling T-Bills After Jack Lew Warns Of “Terrible” Debt Limit Accident
by Tyler Durden
ZeroHedge.com
10/19/2015
The one-month-ish Treasury Bills that mature November 18th are collapsing. Following comments this morning by Treasury Secretary Jack Lew that the US will run out of cash on November 3rd and his warning of a “terrible” debt limit accident, the 11/18/15 T-Bills have seen yields explode from -1bp to 7bps – an unprecedented 8bps spike as investors panic-sell beyond the deadline. WI 1month bills are over 11bps!
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