Short-Term Yields Go Negative in Scramble for Cash

Yields on the safest, short-term Treasurys settled into negative territory for the first time in more than four years, as investors continued clamoring for cash and safe dollar assets even as some markets showed signs of normalization.

The one-month Treasury bill yield closed at minus 0.041% Wednesday and the three-month ended at minus 0.046%, the first time they have closed the day below 0% since late 2015, according to Tradeweb. Yields remained in negative territory early Thursday with the yield on the three-month Treasury…

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