Maybe you remember news stories like this from last December, when it seemed the entire world’s economic system was about to break down.
Dec. 9 (Bloomberg) — Treasuries rose, pushing rates on the three-month bill negative for the first time, as investors gravitate toward the safety of U.S. government debt amid the worst financial crisis since the Great Depression.
Negative yields essentially mean that you are paying the government to loan it money. It’s a flight to safety at any cost. Last December was the first time it had happened since the Great Depression.