U.S. sees negative interest rates in one- and three-month Treasurys

Here is another interesting development the coronacrisis: subzero yields on government debt.

On Wednesday morning, the yields on the one-month and three-month Treasury bills fell below zero. The last time this happened was more than four years ago when both bonds briefly slipped to -0.002 percent.

The U.S. now joins Europe, Japan, and Sweden with negative-yielding debt.

At the time of this writing, the rest of the Treasury market is down. The 10-year note is at 0.8 percent and the 30-year Treasury is at 1.321 percent.

This comes one week after the Federal Reserve slashed interest rates to zero. But the subzero plunge might not be a result of central policy since most investors do not anticipate a negative-interest-rate-policy just yet. That said, the trends suggest yields to go lower for longer.

President Donald Trump wants negative rates, and he might get it in the next market crash when the Fed is out of bullets.

What a crazy market this is!