With my HF radio equipment, I've often heard these pure oscillations when I tune through any of the bands. I believe that this is caused when people are tuning their radios. But this is HF, what frequency are you referring to?
Electronerd, I think the squeel I'm talking about is common to most Am broadcast band radios. That's the frequency I am refering to. Also, commercial Am is the mode of modulation I am refering to.
Think about how an AM dial is organized, every 10Khz there is a station, some far, some close. If you tune a dial between two stations their frequencies will heterodyne together, but not as a stable sound. Hence the squeal.
Visualize two AM frequencies on a spectrum graph and you get the idea.