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WTF Chart Of The Day: Debt-Ceiling-Driven Panic-Selling In T-Bills Sparks Buying Frenzy In Stocks

With less than 2 weeks left until the "debt ceiling accident" that Jack lew has warned about, T-Bills (maturing beyond Nov 3rd) are being dumped wholesale. Oct 29th Bills are trading -1bps but Nov 12th Bills are up 6bps at 12bps, the 1-month WI is at 16bps. Of course, equity markets will be the last to notice and algos appear to be seeing this as a panic-buying-opportunity.

 

 

Charts: bloomberg