Another Unnecessarily Embarrassing Day for the Fed

US Government bond securities throughout the 1930's would trade with negative yields the closer to maturity they became. It was not then, and is still not in the modern day, uncommon for treasury bill yields to be slightly negative upon expiration, but that was and is more or less a few basis points. These were longer-dated bonds, though, and the negative yield was at times on the order of several percent.