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The yield on the three-month T-bill is at a 50-year low.

"People are confused. They are in a reactive mode," said Lou Brien, market strategist at DRW Trading in Chicago.

The yield on three-month T-bills, considered by economists as a "risk-free" benchmark return on U.S. assets, was last quoted at 0.84 percent, down 36 basis points from late Friday. It reached a low of 0.63 percent earlier.

"It's a complete place to hide out," Brien said.

Posted by edelfenbein at March 17, 2008 12:42 PM