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With global macroeconomic uncertainty continuing and recent announcements of the U.S. Treasury's intent to offer floating-rate securities next year, there has been a great deal of analysis surrounding fixed-income sovereign debt offerings lately. Here's a quick look at today's top five yielding Treasury bills on the bond market and their important characteristics, sorted by descending yield to maturity:

1) T-BOND (30YR) CUSIP 912810QW1

  • Available quantity: 9000
  • Minimum quantity: 5
  • Non callable, taxable
  • Matures on May 15, 2042
  • 3% coupon with semi-annual payments in May and November, with first coupon November 15, 2012
  • Current yield: 2.789%
  • Yield to maturity: 2.632%
  • Offer price: 107.558 cents on the dollar

In my view, this T-Bond offering is worth purchase for investors looking to delve into the Treasury market. The near-3% yield and virtually assured liquidity benefits offered more than justify purchase at these levels. At the very least, reallocating some assets toward more conservative fixed-income offerings may be appealing to risk-averse investors who are uncertain about U.S. equities and global prospects. Since this offering quantity is relatively large, there should be liquidity in this lot throughout the day. If not, one of the below lower-yield investments may be worth considering.

2) T-BOND (OLD 30YR) CUSIP 912810QU5

  • Available quantity: 9000
  • Minimum quantity: 5
  • Non callable, taxable
  • Matures on February 15, 2042
  • 3.125% coupon with semi-annual payments in February and August, with first coupon August 15, 2012
  • Current yield: 2.836%
  • Yield to maturity: 2.627%
  • Offer price: 110.183 cents on the dollar

3) T-BOND (DBL OLD 30YR) CUSIP 912810QT8

  • Available quantity: 9000
  • Minimum quantity: 5
  • Non callable, taxable
  • Matures on November 15, 2041
  • 3.125% coupon with semi-annual payments in May and November, with first coupon May 15, 2012
  • Current yield: 2.834%
  • Yield to maturity: 2.620%
  • Offer price: 110.277 cents on the dollar

4) T-BOND CUSIP 912810QS0

  • Available quantity: 9000
  • Minimum quantity: 5
  • Non callable, taxable
  • Matures on August 15, 2041
  • 3.750% coupon with semi-annual payments in February and August, with first coupon on February 15, 2012
  • Current yield: 3.034%
  • Yield to maturity: 2.589%
  • Offer price: 123.589 cents on the dollar

5) T-BOND CUSIP 912810QQ4

  • Available quantity: 9000
  • Minimum quantity: 5
  • Non callable, taxable
  • Matures on May 15, 2041
  • 4.375% coupon with semi-annual payments in May and November, with first coupon November 15, 2011
  • Current yield: 3.200%
  • Yield to maturity: 2.563%
  • Offer price: 136.714 cents on the dollar

Investors in Treasury bills should be aware that while credit risk on these securities is relatively irrelevant, interest rate risk and market risk are still driving factors. For more information on gathered interest rate statistics, the Treasury website may be worth a glance. Best of luck, and may the markets be with you.

Source: Bond Market Current: Today's 5 Top-Yielding T-Bills