On-the-Run vs Off-the-Run Treasuries
On-the-run vs off-the-run Treasuries: what makes the newest auction issue the benchmark, why it yields less, and how buybacks target seasoned bonds.
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On-the-run vs off-the-run Treasuries: what makes the newest auction issue the benchmark, why it yields less, and how buybacks target seasoned bonds.
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What the 2s10s spread is, how the Treasury yield curve works, and what past inversions looked like, with every chart built from auditable market data.