Treasury bill yields have simply vanished over the past month. Investors have bid them down to virtually nothing (yields go down as prices go up) in an epic “flight to safety.”

Today, however, the yield on the 3-month Treasury Bill climbed to its highest level in the past month. This is a positive sign for alternatives to Treasuries (i.e. stocks, preferreds, corporate bonds, etc.) because it shows perhaps that investors’ are becoming at least a bit less single-minded.

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