References in periodicals archive ?
On-the-run Treasuries generally became relatively more valuable as investors sought not only the safety of Treasury securities but also the liquidity of the on-the-run issues in the so-called flight to liquidity.
In recent years, more than half of reported interdealer broker trading in nominal Treasury debt, on average, took place in on-the-run securities, even though off-the-run issues outnumbered on-the-run issues more than twenty to one.
As a result, most of this year's increased activity came from both bill and coupon on-the-run issues.