Beyond Thirty: Treasury Issuance of Long-Term Bonds from 1953 to 1965
38 Pages Posted: 20 Jan 2017
Date Written: 2017-01-01
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: Treasury debt management, long-term bonds, U.S. Treasury
JEL Classification: H63, N22
Suggested Citation: Suggested Citation
Garbade, Kenneth, Beyond Thirty: Treasury Issuance of Long-Term Bonds from 1953 to 1965 (2017-01-01). FRB of NY Staff Report No. 806, Available at SSRN: https://ssrn.com/abstract=2902543
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