The bond that broke the internet

Last week I saw a headline that stopped me in my tracks: Lowly T-Bills are Suddenly Sexy. Yes, Treasury Bills! I have never - in more than 15 years of covering business and economics - ever seen the words 'sexy' and 'Treasury bills' in the same sentence.

And for good reason. In the world of investments, Treasury bills would never be considered the sexy ones. That would be tech stocks, crypto or maybe NFTs. Treasury bills would be the ones wearing sensible shoes, driving under the speed limit and shopping at Costco.

"I feel like everyone thinks of this lowly, boring world of Treasury bills," said Alexis Leondis, who wrote the tracks-stopping headline and the article that went with it for : "And I'm like, 'They're not that way anymore. They deserve a second look.'" Leondis is not wrong. Government bonds (A.K.A. Treasury bonds, Treasury bills, T-bills) have had