4-week T-bills now being auctioned for 0.000%

Apparently, market professionals are willing to accept short-term government paper at auction with no discount through four weeks (hat tip Matt Franko).

4-week Money

Wow! This despite the potential for an eventual default on August 2, two days before that four weeks is out.

Free money for the US government: that’s what zero rates and currency sovereignty mean.

About 

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.