Treasury Bills

QUOTE AND NEWS
Mondo Visione  5 hrs ago  Comment 
Nasdaq (Nasdaq:NDAQ) today announced that eSpeed, the exchange group's over-the-counter platform for electronic trading in U.S. Treasury securities, successfully introduced U.S. Treasury Bill (TBills) with notional average daily volume exceeding...
SeekingAlpha  Oct 10  Comment 
By Donald van Deventer: Forward 1-month T-bill rates fell again this week, dropping at nearly every monthly maturity for the next 10 years. The fall in implied forward 1-month Treasury bill rates stems from a decrease of 0.07% to 0.12% in current...
SeekingAlpha  Oct 3  Comment 
By Donald van Deventer: Forward 1-month T-bill rates fell again this week, dropping at every monthly maturity for the next 10 years. The fall in implied forward 1-month Treasury bill rates stems from a decrease of 0.05% to 0.08% in current U.S....
SeekingAlpha  Sep 26  Comment 
By Donald van Deventer: Forward 1-month T-bill rates plunged this week, falling at every monthly maturity for the next 10 years. The fall in implied forward 1-month Treasury bill rates stems from a decrease of 0.07% to 0.14% in current U.S....
Financial Times  Sep 24  Comment 
The end of financial quarters is generally marked by investors and banks liquidating trades over the past three months and parking the proceeds into short-dated securities, a practice known as window dressing for reporting purposes
The Hindu Business Line  Sep 17  Comment 
One-year Japanese government bills traded at a yield of minus 0.005 per cent on Wednesday, the first time the one-year Japanese bill yield has traded in negative territory. Traders quickl...
SeekingAlpha  Aug 22  Comment 
By Donald van Deventer: Forward 1-month T-bill rates twisted again, like they did last summer, leading to a drop of 0.07% in January 2023 and a rise of 0.19% in May 2016. The twist in implied forward 1-month Treasury bill rates stems from an...




 
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The graph to the left is the discount rate for T-Bills with a 3-month maturity.

Treasury bills are short-term debt securities issued by the U.S. Government. They are issued in lengths of four weeks (30 days), three months (90 days), six months (180 days), and one year (360 days). However, the one year bill is currently no longer issued. Treasury bills are known as a zero coupon, or discount security, since it pays the interest and principal at maturity.

The rates listed on Treasury bills are known as discount rates. However, it is important know two things when purchasing Treasury bills:

  1. The discount rate is annualized
  2. The Treasury assumes that a year has 360 days

Formula

Image:Treasury_Bill_Discount.png


Image:Treasury_Bill_Yield.png

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