Investors continue to be concerned about the extent of the liquidity crisis and whether more financial institutions will fall victim to the credit crunch. Consequently, investors are beginning to move into safe haven currencies such as the Yen and the Swiss Franc, resulting in the U.S. 3-Month Treasury rates falling to 55 basis points. On Friday, the U.S. 3-Month Treasury rate was as high as 1.20%, but the demise of Bear Stearns triggered the fall to its lowest level in more than 50 years.
