Beyond thirty: Treasury issuance of long-term bonds from 1953 to 1965

Abstract: Ever since the emergence of regular and predictable issuance of coupon-bearing Treasury debt in the 1970s, thirty years has marked the outer boundary of Treasury bond maturities. However, longer-term bonds were not unknown in earlier years. Seven such bonds, including one with a forty-year term, were issued between 1955 and 1963. This paper examines the circumstances that led to the issuance of these seven bonds.

Keywords: long-term bonds; U.S. Treasury; Treasury debt management;

JEL Classification: H63; N22;

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Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: Staff Reports

Publication Date: 2017-01-01

Number: 806

Pages: 36 pages