Some animals are said to be able to sense earthquakes before they happen.
It looks like some bond buyers have the same ability.
March 20 (Bloomberg) -- U.S. Treasury three-month bill rates dropped to the lowest since at least 1954 as investors seek the safety of government debt amid a loss of confidence in credit markets.
Bill rates declined as low as 0.387 percent as finance company CIT Group Inc. drew on $7.3 billion in credit lines after being shut out of short-term debt markets. Institutions worldwide have reported $195 billion in writedowns and losses related to subprime mortgage and collateralized debt obligations since the start of 2007.
``All the evidence out there suggests there's more pain to come,'' said Andrew Milligan, head of global strategy in Edinburgh at Standard Life Investments Ltd., which manages $265 billion in assets. ``Investors are going to say they need safer assets.''