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What Is the When-Issued Market with Respect to US Treasuries

Question 13

Multiple Choice

What is the when-issued market with respect to US Treasuries?


A) It's a special kind of call market that begins a week or so before a Treasury securities auction.
B) It's a special kind of forward market that begins a week or so before a Treasury securities auction.
C) It's a special kind of futures market that begins a week or so before a Treasury securities auction.
D) It's a special kind of repo market that begins a week or so before a Treasury securities auction.
E) None of these answers are correct.

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