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Keywords:Treasury notes 

Journal Article
The information content of Treasury inflation-indexed securities

Review , Volume 82 , Issue Nov , Pages 25-38

Journal Article
Measuring treasury market liquidity

This paper was presented at the conference "Economic Statistics: New Needs for the Twenty-First Century," cosponsored by the Federal Reserve Bank of New York, the Conference on Research in Income and Wealth, and the National Association for Business Economics, July 11, 2002. Securities liquidity is important to those who transact in markets, those who monitor market conditions, and those who analyze market developments. This article estimates and evaluates a comprehensive set of liquidity measures for the U.S. Treasury securities market. The author finds that the commonly used bid-ask ...
Economic Policy Review , Issue Sep , Pages 83-108

Journal Article
Treasury inflation-indexed debt: a review of the U.S. experience

This article describes the evolution of Treasury inflation-indexed debt securities (TIIS) since their introduction in 1997. Over most of this period, TIIS yields have been surprisingly high relative to those on comparable nominal Treasury securities, with the spread between the nominal and indexed yields falling well below survey measures of long-run inflation expectations. The authors argue that the low relative valuation of TIIS may have reflected investor difficulty adjusting to a new asset class, supply trends, and the lower liquidity of indexed debt. In addition, investors may have had a ...
Economic Policy Review , Issue May , Pages 47-63

Journal Article
Change in reporting of yields on 2 1/2 year Treasury securities

Federal Reserve Bulletin , Issue Sep

Journal Article
Assessing the Costs of Rolling Over Government Debt

The US government has $21.4 trillion in outstanding Treasury debt in bills, notes, and bonds. Given the federal funds rate is up 4-5% over the past year, how expensive will it be to roll over maturing Treasury debt at these higher rates?
Economic Synopses , Issue 13 , Pages 4 pages

Journal Article
Debt-management policy and the own price elasticity of demand for U.S. government notes and bonds

Review , Volume 59 , Issue Sep , Pages 8-22

Report
Expected repo specialness costs and the Treasury auction cycle

Repo rates for the most recently issued or "on-the-run" securities often diverge from general repo rates. The purpose of this study is to convey that relatively sizable divergences in repo rates for on-the-run issues are normal repeating events for the Treasury market, rather than evidence of abnormal circumstances. The costs associated with these repo market premia are small for short holding periods and are sometimes offset by gains from declining cash market premia for longer holding periods. Moreover, repo specialness costs seem small when considered against the alternative of not ...
Research Paper , Paper 9504

Journal Article
Bureau of Public Debt ends window services at Fed banks

Financial Update , Volume 12 , Issue Jul

Discussion Paper
TIPS scorecard: are TIPS accomplishing what they were supposed to accomplish?: can they be improved?

In September 1997, the U.S. Treasury developed the TIPS market in order to achieve three important policy objectives: (1) to provide consumers with a class of assets that allows for hedging against real interest rate risk, (2) to provide holders of nominal contracts a means of hedging against inflation risk, and (3) to provide everyone with a reliable indicator of the term structure of expected inflation. This paper evaluates progress toward the achievement of these objectives and analyzes prospective ways to better meet these objectives in the future, by, for example, extending the maturity ...
Public Policy Discussion Paper , Paper 09-8

Journal Article
Treasury securities offered in smaller amounts

Financial Update , Volume 11 , Issue Oct , Pages 5

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