US Treasuries are the bedrock of the global financial system

The U.S. Treasury market is the largest and most liquid bond market on the planet.​

U.S. Treasuries are debt instruments issued by the U.S. government to finance its activities. They include the cash, repurchase agreement (repo), and futures markets.​

Investors view Treasuries as safe havens for investors during market crises. Their stability means they underpin the strategies of many asset managers and serve as benchmarks for other fixed-income securities and hedging positions. As a result, U.S. Treasury yields have an impact on the rates that consumers, businesses, and governments across the globe pay to borrow money. In addition, the U.S. Treasury repo market is a key transmission mechanism for U.S. monetary policy, and vital to the liquidity of the cash Treasury market.​