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Chart of the Day
Over the past two months, fears related to the credit crisis have diminished. As a result, short-term interest rates have risen. For some perspective, today's chart presents the current trend of the yield on 13-week T-bills. Today's chart illustrates how the yield on 13 week T-bills dropped to nearly 0% at the height of the credit crisis back in March. Since then the T-bill rate has risen to nearly 2% and is currently testing support of a nine-month downtrend. It is worth noting that the duration of this downtrend is limited since the yield cannot drop below zero.
Notes:
- What does the current interest rate environment mean for the market? The answer may surprise you. Find out now with the exclusive & highly regarded charts of Chart of the Day Plus.
Source - Federal Reserve Board
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Quote of the Day
"Years of practice enable the trader to act on the instant when the unexpected happens as well as when the expected comes to pass." - Jesse Livermore
Events of the Day
May 17, 2008 - Preakness Stakes - Armed Forces Day
May 19, 2008 - Victoria Day (Canada)
May 25, 2008 - French Open tennis tournament begins (ends June 8th) - Indianapolis 500
May 26, 2008 - Memorial Day (observed)
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