The word of the day in financial markets: Anxious.
On Friday, traders did something they rarely do: they sold what are considered to be the world's safest short-term investments. Traders typically buy short term U.S. Treasurys on Friday because they want their money in a safe place in case something happens over the weekend to rattle markets.
But this week, they instead bought longer-duration bonds as concerns grew that the federal government may not be able to pay all of its bills next month. Yields on bonds due in one month rose higher than those due in six months. The higher the yield, the higher the implied risk of the bond.
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