Beyond thirty: Treasury issuance of long-term bonds from 1953 to 1965

Kenneth Garbade

No 806, Staff Reports from Federal Reserve Bank of New York

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: long-term bonds; U.S. Treasury; Treasury debt management (search for similar items in EconPapers)
JEL-codes: H63 N22 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2017-01-01
New Economics Papers: this item is included in nep-his and nep-hpe
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