Treasury Notes

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Related to Treasury Notes: Treasury bills, 10 Year Treasury Notes

Treasury Notes


tokens representing value, which substitute in circulation for set quantities of gold or silver. Having no value of their own, treasury notes circulate as representations of gold and silver money and to some’extent may substitute for them as a medium of payment. Treasury notes may take the form of paper money and bank notes, as well as of coins having a nominal value greater than their actual metallic value (such as copper and nickel coins).

Treasury Notes


money not exchangeable for gold and issued by the treasury, as well as short-term treasury obligations in circulation. Before World War I, treasury notes greatly differed from bank notes, which were put out by the banks of issue to credit commodity circulation and which were exchangeable for gold. During and for some time after World War I, budget deficits were often covered by treasury notes, as well as by bank notes (which ceased to be exchangeable for gold). During World War II, military expenditures were financed by short-term treasury obligations, such as the “occupation marks” issued by fascist Germany that circulated in countries temporarily occupied by Germany.

In the USSR, treasury notes are used to replace bank notes and to pay small bills. Treasury notes circulate in the country on an equal basis with bank notes. Treasury notes are issued by the Gosbank (State Bank) of the USSR according to its emission plan in denominations of one, three, and five rubles. By law, treasury notes are backed by the national property of the USSR, and their acceptance at their nominal value is mandatory throughout the entire country for all types of payments.


References in periodicals archive ?
If we combine Campbell and Shiller's estimate of a 100-basis-point overstatement of TIPS-based inflation expectations with the 50-basis-point understatement that is actually observed, it suggests that the real yield on nominal Treasury notes is 150 basis points lower than the real yield on TIPS.
Obviously, investors can sell TIPS, but not nearly as easily as regular Treasury notes.
Some analysts are predicting yield on the 10-year Treasury note is on a run that will lift it above 5 percent.
Treasury complex and in response to strong customer demand following the recent reinstatement of 3-Year Treasury notes into the monthly auction cycle," said Robin Ross, CME Group Managing Director of Interest Rate Products.
The 3-Year Treasury Notes will trade via both CME Globex and open outcry.
Additionally in 2005, the CBOT's Two-Year Treasury Note futures contract also grew 125 percent in ADV to 84,821 contracts and set repeat daily and monthly volume records throughout 2005.
Total Exchange 2,677,188 -- Financial Futures & Options 2,216,364 -- Treasury Futures 1,292,970 -- 10-Year Treasury Note Futures 860,496 -- 5-Year Treasury Note Futures 487,635 -- 5-Year Treasury Note Options 70,766 -- 2-Year Treasury Note Futures 84,821 -- 30-Day Fed Fund Options 26,138 -- Agricultural Futures 299,675 -- Agricultural Futures & Options 364,572 -- Corn Futures 110,972 -- Mini-sized Corn Futures 406 -- Soybean Futures 80,223 -- Soybean Options 27,054 -- Mini-sized Soybean Futures 1,966 -- Soybean Oil Futures 30,461 -- Wheat Futures 40,135 -- Mini-sized Wheat Futures 128 -- Ethanol Futures 14 -- Equity Futures 105,872 -- Equity Futures & Options 108,762 -- $5 Mini-sized Dow Jones Futures 98,779 -- Metal Complex 5,045 -- 100 oz.
Treasury Notes due November 15, 2006, calculated to the maturity date of the 2006 Notes.
The exchange currently maintains markets for futures and options on 2-, 5- and 10-year Treasury notes and on 30-year Treasury bonds.
Eurex US, located in and operating out of Chicago, will begin trading at 7 pm CST on February 8 and will initially offer trading in futures and options on 2-, 5- and 10-year Treasury notes and on 30-year Treasury bonds.
For Series EE savings bonds held five years or more, the interest rate will vary based on the then-current yield on the five-year Treasury note.

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