On-the-Run Treasuries

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On-the-Run Treasuries

The most recently issued set of U.S. Treasury securities with a certain maturity. For example, if the Treasury issues one year notes in May, June, and July, and it is now August, the on-the-run Treasuries are those issued in July. On-the-run Treasuries are the most actively traded Treasury securities and as a result have a slightly lower yield than off-the-run Treasuries.
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