Off-The-Run Treasury Yield Curve
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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.
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Investopedia explains '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.
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Search results for 'Off-The-Run Treasury Yield Curve'
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http://www.investopedia.com/exam-guide/cfa-level-1/fixed-income-investments/government-bonds.asp
... Call and Prepayment Risk; 14.11 Reinvestment Risk; 14.12 Yield Curve Risk;
14.13 Credit Risk; 14.14 Liquidity Risk; 14.15 Exchange-Rate ...
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