By Michael Mackenzie and Tracy Alloway Financial Times, London Monday, September 29, 2014
NEW YORK -- Investors are scrambling for safe assets ahead of the end of the financial quarter, with the scrum for securities exacerbated by the Federal Reserve's testing of a key financing tool for an eventual tightening of policy.
Yields on short-term Treasury bills, viewed as ultra-safe securities, have dipped below zero as the assets attracted heavy buying in the run-up to the end of the third quarter.
Negative yields on the securities mean that money market funds and other big investors are effectively willing to pay the US government for holding their cash over the end of the financial period. ...
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http://www.ft.com/intl/cms/s/0/34fcc25c-44d0-...144feabdc0.html
