from financials (Citigroup) this morning. News and surprises follow the trend. No stabilization and definitely no bounce for now.

Here is the only response I received about the 13 week t-bill index.

that’s a chart of the yield of the 13-week t-bill (16.40 being 1.64%) just like the TNX is a chart of the yield on the 10-year treasury. a falling yield on that thing would be evidence of continued strains and dislocations in the credit market and money continuing to pour into the short end of the curve and out of riskier fixed income securities; obviously driving up the price and driving bond yields down. breaking to a new low yield is not a good sign for the health of the credit market. there are still panicked people out there looking for a safe place to put cash. thanks Matt