Mattress

It really is telling about the state concern that people are buying short term US government debt at 0% return.

Investors accepted the zero percent rate in the government’s auction Tuesday of $30 billion worth of short-term securities that mature in four weeks. Demand was so great even for no return that the government could have sold four times as much.

Bloomberg has alot more detail, pointing out that a good bit of this is year end sales to make the balance sheets, but the lower rates are stretching up to the 10 year.