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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
doi.org
Record ID
XF5255ISVF
Validation
Inferred by XFID

Verification

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SHA-256 (file bytes)
b724e43bd138e7cc420a9b2bc92af28f5f916ab30a2a15b40e4125ff6ab75335
SHA-256 (canonical content)
b724e43bd138e7cc420a9b2bc92af28f5f916ab30a2a15b40e4125ff6ab75335
Source access-restricted (bot wall / registration / paywall) — last checked 6 July 2026

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Topics

Bond Pricing

Cited by (1)

Other RESEARCH documents in the registry that cite this work.

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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