The Treasury Securities Market: Overview and Recent Developments

Dominique Dupont and Brian P. Sack

Federal Reserve Bulletin, 1999, vol. 85, issue 12, pp. 785-806

Abstract: The market for U.S. Treasury securities is by many measures the largest, most active debt market in the world, and the securities play a pivotal role in world financial markets. The market has evolved over time in keeping with the changing needs of both the Treasury and investors. After describing the market's structure and examining the factors driving the demand for Treasury securities in some detail, this article discusses recent developments, including the introduction of inflation-indexed securities and a decline in the issuance of Treasury securities.

JEL-codes: G11 G15 H63 (search for similar items in EconPapers)
Date: 1999
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DOI: 10.17016/bulletin.1999.85-12

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