No. of Recommendations: 1
Business Week this week reported that on Sep 17, people were so frantic about getting out of money markets and other investments (ie the flight to quality) that they bid 3 mo T bills yield down to zero.

The yield curve data confirms--

On 9/17 the yield on a 3 mo T-Bill hit 0.03%.

This is an indication of a lot of pain out there in the fixed income community. And it sure looks like CD yields and money markets may not be paying much yield for a while.

Since 9/17 there has been a bit of recovery, but this still looks feeble.
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