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U.S. Bill Rates Turn Negative

Tax payments reduce supply of short-term Treasury debt.

By Liz Capo McCormick, Bloomberg | Updated on September 10, 2014

Treasury one-month bill rates turned negative for the first time since June as the government sells less of the short-term debt with seasonal tax payments flowing into federal coffers.

Rates on one-month Treasury bills touched negative 0.0051 percent for a second day, down from as high this quarter as 0.04 percent, according to Bloomberg data. The average rate for borrowing and lending Treasuries for one day in the repurchase market was 0.067 percent yesterday, according to the DTCC GCF Treasury Repo index, down from as high this month as 0.110 percent.

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