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XF-5255ISV-F
Research / Academic Paper ACTIVE

Liquidity, Maturity, and the Yields on U.S. Treasury Securities

Abstract Only — The full paper PDF is not available in the registry. This XFID was minted from the paper's title, authors, and year. Where available, an abstract is provided below; the link to the publisher's record is canonical.

Abstract

ABSTRACT The effects of asset liquidity on expected returns for assets with infinite maturities (stocks) are examined for bonds (Treasury notes and bills with matched maturities of less than 6 months). The yield to maturity is higher on notes, which have lower liquidity. The yield differential between notes and bills is a decreasing and convex function of the time to maturity. The results provide a robust confirmation of the liquidity effect in asset pricing.

Source: resolved

Document Metadata

Issuer
JSTOR
Document Type
Research / Academic Paper
Publication Year
1991
Retrieved
5 May 2026
Source
Contact XFID for Access
Record ID
XF5255ISVF
Validation
Inferred by XFID

Topics

Bond Pricing

Cited by (1)

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Academic / report citation
JSTOR (1991). Liquidity, Maturity, and the Yields on U.S. Treasury Securities. XFID: XF-5255ISV-F. Retrieved from https://xframework.id/XF5255ISVF
Identifier only
XF-5255ISV-F