It’s the same old story. The monthly Treasury average fell to its lowest level on record and will probably decline even more.
During September, the MTA was 0.63167%, according to data reported by the Federal Reserve.
In August, the index was 0.75750%, while it stood at 2.47833% in September 2008.
The MTA has fallen each month since April 2007 — when it was a whopping 5.02917%.
The index represents the 12 month average of the monthly yield on the one-year Treasury bill. The one-year averaged just 0.40 percent in September, while it closed at 0.37% on Friday.
At the current pace of decline, the MTA will likely fall below 0.50%.