Beyond Thirty: Treasury Issuance of Long-Term Bonds from 1953 to 1965

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Beyond Thirty: Treasury Issuance of Long-Term Bonds from 1953 to 1965

January 2017 Number 806

JEL classification: H63, N22

Author: Kenneth D. Garbade

Ever since the emergence of regular and predictable issuance of coupon-bearing Treasury debt 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 with a forty-year term, were issued between 1955 and 1963. This paper examines the circumstances that led to the issuance of these seven bonds.

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36 pages / 268 kb
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