The crowds that filled the lobby of the Federal Reserve Bank of Chicago last week were looking for more than a chance to admire the ornate ceiling and marble columns. They came to cash in on one of this year's hottest financial plays: U.S. Treasury securities. Enticed by a surge in interest rates and put off by the stock market, individuals have turned the once staid investment into a popular favorite. Small investors bought three-month and six-month T- bills at the record pace of $2.5 billion a week during the first quarter of 1989, compared with $2 billion a year ago....
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