The Treasury sells U.S. bills and notes in regular auctions to finance the activities of the government.
The Treasury Department is selling 1-month, 1-year and 2-year bills and notes in auctions that should draw plenty of interest with traders steering clear of equities.
The supply of Treasury bills, notes and bonds is already dropping fast.
The railway ministry, which is China's largest corporate-bond issuer, used all of last year's quota for long-dated bonds and also raised an additional 50 billion yuan via short-term bills and medium-term notes.
Companies put money in short term Treasury notes and bills to settle trade payments.
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Seniors can appeal to their local tax collector to lower their bills, she notes, and many states offer seniors special property-tax abatements.
The interbank association is responsible for approving medium-term notes and bills sold by companies, and most of those securities are held by banks.
However, agencies may recognize market adjustments on bills, notes, bonds, and zero coupon bond securities classified as available-for-sale.
To give you a sense of how much higher, I can tell you that interest rates averaged a whopping 6.3% on 3-month Treasury bills and 7.6% on 10-year notes during the five years after 1969 that the CPI posted gains of between 5 and 7%.
And, during the Kennedy Administration, the Fed sold T-bills and purchased an equal amount of longer dated T-Notes in order to reduce long-term rates.
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In the era of free banking between 1837 and 1863, for instance, more than 700 banks could issue their own notes, and as many as one-third of all bills were fake.
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