Quite the rally in T-bills… continuing apace on Friday, now that the Transaction Account Guarantee has become increasingly, quietly, talked about in the past tense ahead of a year-end renewal deadline.
(Chart of the 1-year T-bill, click to enlarge. The yield on a T-bill maturing in January was close to zero at pixel time) Read more

1About China's capacity to absorb more capital
2Japan's mini crash: Blame China, not just Ben
3Spain's awful unemployment
4The Nikkei: a market abducted by retail
5S&P 2,100, by Goldman Sachs
Show more6Everlasting credit, the long view
7Measure it however you like: inflation has been low and falling
8Buyback to enrich
9Apple Operations International, facts (?) du jour
10Everyone's scared of something
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