May 7, 2013
THERE'S ONLY ONE SAFE HAVEN:
U.S. Gets Free Cash (MIN ZENG, 5/07/13, WSJ)
The U.S. got free cash in the bond market Tuesday for the first time in 17 months, paying no yield as it sold $20 billion worth of four-week Treasury bills.The sale shows the U.S. government reaping benefits from a drop in the supply of such short-term Treasury securities as it cuts back on borrowing amid a surge in tax receipts.
The greatest long term threat to the global economy remains the decline of US debt.
Posted by Orrin Judd at May 7, 2013 8:25 PM
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