Off-The-Run Treasury Yield Curve


DEFINITION of 'Off-The-Run Treasury Yield Curve'

The U.S. Treasury yield curve derived using off-the-run treasuries. Off-the-run treasuries refer to U.S. government bonds of a given maturity that are not the most recently issued. While they are not as recent as on-the-run treasuries, off-the-run treasuries can be used to construct a yield curve if there is a problem or distortion with the yield curve as represented by on-the-run treasuries.

BREAKING DOWN 'Off-The-Run Treasury Yield Curve'

While the on-the-run treasury yield curve is the primary benchmark used for pricing fixed-income securities, fixed-income analytics are sometimes run by investors and traders based on the off-the-run treasury yield curve because they believe the on-the-run treasury yield curve has price distortions caused by the current market demand for the on-the-run bonds.

  1. UST

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  2. Spot Rate Treasury Curve

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  3. Off-The-Run Treasuries

    All Treasury bonds and notes issued before the most recently ...
  4. Yield Curve

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  5. On-The-Run Treasuries

    The most recently issued U.S. Treasury bond or note of a particular ...
  6. U.S. Treasury

    Created in 1798, the United States Department of the Treasury ...
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