Here is a chart of the fed funds rate, if you are technical in nature, connect the tops. What a channel! Now follow the market, BYE BYE market!!!
yeah, the next channel bottom is NEGATIVE! I love this place!! I'm going to go practice my Japanese just to celebrate!
Repurchase Agreements with Negative Interest Rates April 2004 Volume 10, Number 5 JEL classification: G28, G18, H63 Authors: Michael J. Fleming and Kenneth D. Garbade Contrary to popular belief, interest rates can drop below zero. From early August to mid-November of 2003, negative rates occurred on certain U.S. Treasury security repurchase agreements. An examination of the market conditions behind this development reveals why market participants are sometimes willing to pay interest on money lent. HTML full article PDF full article 7 pages / 252 kb Press release Order this article http://www.ny.frb.org/research/current_issues/ci10-5.html