BROWSE

Off-The-Run Treasuries

What are 'Off-The-Run Treasuries'

Off-the-run treasuries are all Treasury bonds and notes issued before the most recently issued bond or note of a particular maturity. These are the opposite of "on-the-run treasuries."

Explaining 'Off-The-Run Treasuries'

Once a new Treasury security of any maturity is issued, the previously issued security with the same maturity becomes the off-the-run bond or note.

Because off-the-run securities are less frequently traded, they typically are less expensive and carry a slightly greater yield.


Further Reading


A Model of the Convenience Yields in On-the-run Treasuries
link.springer.com [PDF]
… yields in Treasury securities, using repo spread data, on-the-run and just off-the-run Treasury prices … MODEL OF CONVENIENCE YIELDS IN ON-THE-RUN TREASURIES … reported, we show that its cyclicality is statistically significant and per- vasive across bonds and auctions …

Term structure estimation from on-the-run TreasuriesTerm structure estimation from on-the-run Treasuries
www.sciencedirect.com [PDF]
… yields in Treasury securities, using repo spread data, on-the-run and just off-the-run Treasury prices … MODEL OF CONVENIENCE YIELDS IN ON-THE-RUN TREASURIES … reported, we show that its cyclicality is statistically significant and per- vasive across bonds and auctions …

Who makes on-the-run Treasuries special?Who makes on-the-run Treasuries special?
www.sciencedirect.com [PDF]
… yields in Treasury securities, using repo spread data, on-the-run and just off-the-run Treasury prices … MODEL OF CONVENIENCE YIELDS IN ON-THE-RUN TREASURIES … reported, we show that its cyclicality is statistically significant and per- vasive across bonds and auctions …

Who makes on-the-run Treasuries special?Who makes on-the-run Treasuries special?
papers.ssrn.com [PDF]
… yields in Treasury securities, using repo spread data, on-the-run and just off-the-run Treasury prices … MODEL OF CONVENIENCE YIELDS IN ON-THE-RUN TREASURIES … reported, we show that its cyclicality is statistically significant and per- vasive across bonds and auctions …

The effect of transaction size on off-the-run Treasury pricesThe effect of transaction size on off-the-run Treasury prices
www.jstor.org [PDF]
… yields in Treasury securities, using repo spread data, on-the-run and just off-the-run Treasury prices … MODEL OF CONVENIENCE YIELDS IN ON-THE-RUN TREASURIES … reported, we show that its cyclicality is statistically significant and per- vasive across bonds and auctions …

Automation versus intermediation: Evidence from Treasuries going off the runAutomation versus intermediation: Evidence from Treasuries going off the run
onlinelibrary.wiley.com [PDF]
… yields in Treasury securities, using repo spread data, on-the-run and just off-the-run Treasury prices … MODEL OF CONVENIENCE YIELDS IN ON-THE-RUN TREASURIES … reported, we show that its cyclicality is statistically significant and per- vasive across bonds and auctions …

The on-the-run liquidity phenomenonThe on-the-run liquidity phenomenon
www.sciencedirect.com [PDF]
… yields in Treasury securities, using repo spread data, on-the-run and just off-the-run Treasury prices … MODEL OF CONVENIENCE YIELDS IN ON-THE-RUN TREASURIES … reported, we show that its cyclicality is statistically significant and per- vasive across bonds and auctions …

The term structure of bond market liquidity and its implications for expected bond returnsThe term structure of bond market liquidity and its implications for expected bond returns
www.jstor.org [PDF]
… yields in Treasury securities, using repo spread data, on-the-run and just off-the-run Treasury prices … MODEL OF CONVENIENCE YIELDS IN ON-THE-RUN TREASURIES … reported, we show that its cyclicality is statistically significant and per- vasive across bonds and auctions …

The price of future liquidity: Time-varying liquidity in the US Treasury marketThe price of future liquidity: Time-varying liquidity in the US Treasury market
academic.oup.com [PDF]
… yields in Treasury securities, using repo spread data, on-the-run and just off-the-run Treasury prices … MODEL OF CONVENIENCE YIELDS IN ON-THE-RUN TREASURIES … reported, we show that its cyclicality is statistically significant and per- vasive across bonds and auctions …


Leave a Reply

Your email address will not be published. Required fields are marked *