Which of the following is NOT true about US Treasury securities?
A) These securities are virtually free from default risk.
B) They trade in a market with some of the smallest bid/ask spreads in the world.
C) Their interest payments are free from state and local taxes.
D) They have low minimum denominations and offer a spectrum of maturities that range from one day to thirty years.
E) They accurately reflect a company's cost of borrowing.
Correct Answer:
Verified
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