§ 01
| Security | Maturity | Interest | Used For |
|---|---|---|---|
| T-Bills | 4 weeks to 1 year | Sold at discount, no coupon | Cash management, money market funds |
| T-Notes | 2 to 10 years | Semi-annual coupon | Benchmark for mortgages and corporate bonds |
| T-Bonds | 20 to 30 years | Semi-annual coupon | Long-term pension and insurance portfolios |
| TIPS | 5, 10, or 30 years | Inflation-adjusted principal | Inflation protection |
§ 02
The 10-year Treasury yield is the single most important number in finance. It sets the discount rate for stocks, the base rate for mortgages, and the benchmark for corporate borrowing costs.
§ 03
Check the **yield curve** in the Markets view. Find the current 10-year Treasury yield and compare it to the 2-year.
§ 04
§ 05
Why are Treasury securities considered the 'risk-free' rate benchmark?
Five questions · AI feedback
Sit with the ideas.
A 10-year Treasury note has a 3.25% coupon. The last coupon paid 90 days ago, and there are 183 days between coupon dates. The clean price is 101-08 (101 + 8/32 = 101.25). What is the approximate dirty price per $100 face?
Why: