Yes, auctions on both 4- and 8-week bills today produced low (meaning at least 5% of all accepted bids) yields of: ZERO.
— Jeffrey P. Snider (@JeffSnider_EDU) March 17, 2023
Why in the world would anyone lend the government billions for eight weeks and accept no investment return?
Utility of the instrument as best collateral. pic.twitter.com/iFcjdOVvzt