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Beyond 30: Long-Term Treasury Bond Issuance from 1953 to 1957

Author

Listed:
  • Kenneth D. Garbade

Abstract

Ever since “regular and predictable” issuance of coupon-bearing Treasury debt became the norm in the 1970s, thirty years has marked the outer boundary of Treasury bond maturities. However, longer-term bonds were not unknown in earlier years. Seven such bonds, including one 40-year bond, were issued between 1955 and 1963. The common thread that binds the seven bonds together was the interest of Treasury debt managers in lengthening the maturity structure of the debt. This post describes the efforts to lengthen debt maturities between 1953 and 1957. A subsequent post will examine the period from 1957 to 1965. An extended version of both posts is available here.

Suggested Citation

  • Kenneth D. Garbade, 2017. "Beyond 30: Long-Term Treasury Bond Issuance from 1953 to 1957," Liberty Street Economics 20170206, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:87171
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    More about this item

    Keywords

    Treasury debt management; long-term bonds; U.S. Treasury;
    All these keywords.

    JEL classification:

    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • N2 - Economic History - - Financial Markets and Institutions

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