felines

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Felines

Formerly-issued Treasury securities whose coupons had been stripped by an intermediary. Felines therefore paid no interest. They were sold at a significant discount from par and matured at par. Felines fluctuated in price, sometimes dramatically, because changes in interest rates made them more or less desirable. There were a variety of different felines during the early 1980s, all with "feline" acronyms, such as CATS, COUGRS, and TIGRS. They became largely obsolete after 1986, when the U.S. Treasury began issuing its own stripped bonds. See also: zero-coupon bonds, STRIPS.

felines

See animals.
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(9) Treasury receipts fell from their high-water mark of $6.75 billion in fiscal year 1920 to $4 billion in 1922 in the wake of a severe post-war recession, but then leveled off--and even rose a bit in the second half of the decade--as a result of rapidly expanding economic activity.
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