Treasury Financing Requirements

($ Billions)

Oc

 (Projected) (Actuals) 

Deficit Funding (Def + / Surplus -) 75 69 

Means of Financing

Change in Cash Balance 3 -2 Net Non-Marketable Financing 15 16 Net Marketable Financing 59 52 Other* -2 3 

Net Marketable Financing 59 52 

Bills -9Nominal Notes 56TIPS 15Bonds -9

Notes:Starting Cash Balance 33 33 Ending Cash Balance 30 36 

* Includes direct loan activity, changes in accrued interest, checks outstanding, minor miscellaneous transactions, discount and inflatNote: Totals may not add due to rounding.

 July - September 2005 
Maturing Coupons Coupon 

Date (Excluding SOMA holdings) Payments 

November 15, 2005 38.7 22.3 November 30, 2005 25.3 1.6 

December 15, 2005 0 1.1 

January 3, 2006 26.0 1.7 

January 15, 2006 0 4.4 January 31, 2006 25.6 1.2 

(in dollar billions)

Marketable Treasury Coupon Flows
TREASURY DAILY OPERATING CASH BALANCE

FY 2004 FY 2005 FY 2006

Date Total Date Total Date Total

10/1/2003 21.2 10/1/2004 18.3 10/3/2005 14.7

10/2/2003 14.0 10/4/2004 21.5 10/4/2005 9.5

10/3/2003 13.3 10/5/2004 17.4 10/5/2005 11.6

10/6/2003 13.5 10/6/2004 20.5 10/6/2005 19.1

10/7/2003 8.8 10/7/2004 14.2 10/7/2005 15.2

10/8/2003 5.8 10/8/2004 10.9 10/11/2005 15.4

10/9/2003 6.1 10/11/2004 10.9 10/12/2005 7.8

10/10/2003 3.2 10/12/2004 10.9 10/13/2005 10.0

10/13/2003 3.2 10/13/2004 12.9 10/14/2005 9.2

10/14/2003 4.2 10/14/2004 20.4 10/17/2005 29.3

10/15/2003 5.7 10/15/2004 25.9 10/18/2005 27.1

10/16/2003 19.6 10/18/2004 34.5 10/19/2005 26.9

10/17/2003 19.5 10/19/2004 32.4 10/20/2005 30.9

10/20/2003 21.7 10/20/2004 30.9 10/21/2005 29.4

10/21/2003 20.1 10/21/2004 35.4 10/24/2005 30.6

10/22/2003 20.3 10/22/2004 32.0 10/25/2005 27.3

10/23/2003 28.0 10/25/2004 33.7 10/26/2005 24.6

10/24/2003 25.9 10/26/2004 27.8

10/27/2003 27.6 10/27/2004 25.7

10/28/2003 23.4 10/28/2004 31.4

10/29/2003 26.9 10/29/2004 48.1

10/30/2003 36.0 11/1/2004 35.1

10/31/2003 35.0 11/2/2004 34.1

11/3/2003 14.0 11/3/2004 14.9

11/4/2003 10.5 11/4/2004 23.3

11/5/2003 11.5 11/5/2004 19.9

11/6/2003 14.3 11/8/2004 21.1

11/7/2003 11.6 11/9/2004 16.4

11/10/2003 11.6 11/10/2004 12.9

11/11/2003 11.6 11/11/2004 12.9

11/12/2003 6.0 11/12/2004 28.9

11/13/2003 5.9 11/15/2004 10.5

11/14/2003 5.5 11/16/2004 13.4

11/17/2003 22.7 11/17/2004 10.5

11/18/2003 20.2 11/18/2004 6.3

11/19/2003 19.6 11/19/2004 5.1

11/20/2003 18.7 11/22/2004 6.0

11/21/2003 16.9 11/23/2004 18.1

11/24/2003 17.2 11/24/2004 14.1

11/25/2003 12.4 11/25/2004 14.1

11/26/2003 12.2 11/26/2004 20.6

11/27/2003 12.2 11/29/2004 24.3

11/28/2003 21.4 11/30/2004 18.0

12/1/2003 9.1 12/1/2004 7.6

12/2/2003 6.6 12/2/2004 8.5

12/3/2003 17.7 12/3/2004 7.4

12/4/2003 14.9 12/6/2004 7.0

12/5/2003 10.8 12/7/2004 15.5

12/8/2003 12.3 12/8/2004 12.3

12/9/2003 7.6 12/9/2004 5.4

12/10/2003 6.2 12/10/2004 6.4

12/11/2003 3.6 12/13/2004 11.4

12/12/2003 5.5 12/14/2004 13.7

12/15/2003 41.6 12/15/2004 39.8

12/16/2003 46.4 12/16/2004 33.6

12/17/2003 45.3 12/17/2004 32.8

12/18/2003 30.4 12/20/2004 36.2

12/19/2003 32.5 12/21/2004 35.1

12/22/2003 37.5 12/22/2004 34.6

12/23/2003 34.5 12/23/2004 24.5

12/24/2003 32.8 12/24/2004 26.9

12/25/2003 32.8 12/27/2004 31.9

12/26/2003 22.1 12/28/2004 30.5

12/29/2003 29.8 12/29/2004 34.8

12/30/2003 32.8 12/30/2004 20.0

12/31/2003 33.2 12/31/2004 24.7

1/1/2004 33.2 1/3/2005 20.5

1/2/2004 13.9 1/4/2005 16.8

1/5/2004 15.9 1/5/2005 21.0

1/6/2004 11.9 1/6/2005 10.2

1/7/2004 15.8 1/7/2005 8.4

1/8/2004 6.5 1/10/2005 13.7

1/9/2004 7.5 1/11/2005 12.4

1/12/2004 11.6 1/12/2005 10.6

1/13/2004 11.3 1/13/2005 10.8
1/14/2004 12.8 1/14/2005 10.9

1/15/2004 21.7 1/17/2005 10.9

1/16/2004 30.0 1/18/2005 28.1

1/19/2004 30.0 1/19/2005 38.3

1/20/2004 35.9 1/20/2005 36.3

1/21/2004 51.0 1/21/2005 42.8

1/22/2004 51.0 1/24/2005 52.2

1/23/2004 52.0 1/25/2005 52.8

1/26/2004 57.0 1/26/2005 54.8

1/27/2004 55.3 1/27/2005 50.0

1/28/2004 54.7 1/28/2005 44.8

1/29/2004 56.1 1/31/2005 61.3

1/30/2004 42.5 2/1/2005 49.3

2/2/2004 45.4 2/2/2005 53.0

2/3/2004 21.0 2/3/2005 29.7

2/4/2004 22.7 2/4/2005 20.5

2/5/2004 30.5 2/7/2005 23.0

2/6/2004 18.6 2/8/2005 19.2

2/9/2004 22.3 2/9/2005 15.8

2/10/2004 19.1 2/10/2005 24.6

2/11/2004 17.8 2/11/2005 5.0

2/12/2004 29.9 2/14/2005 4.5

2/13/2004 9.9 2/15/2005 14.7

2/16/2004 9.9 2/16/2005 20.6

2/17/2004 25.1 2/17/2005 29.0

2/18/2004 20.5 2/18/2005 12.7

2/19/2004 34.3 2/21/2005 12.7

2/20/2004 16.9 2/22/2005 18.5

2/23/2004 22.1 2/23/2005 13.5

2/24/2004 18.7 2/24/2005 30.7

2/25/2004 16.9 2/25/2005 17.2

2/26/2004 25.1 2/28/2005 19.6

2/27/2004 16.7 3/1/2005 7.0

3/1/2004 9.9 3/2/2005 10.1

3/2/2004 8.8 3/3/2005 11.8

3/3/2004 14.9 3/4/2005 3.4

3/4/2004 18.2 3/7/2005 6.6

3/5/2004 9.2 3/8/2005 15.4

3/8/2004 12.8 3/9/2005 10.8

3/9/2004 9.6 3/10/2005 15.4

3/10/2004 7.0 3/11/2005 6.2

3/11/2004 13.0 3/14/2005 14.8

3/12/2004 8.1 3/15/2005 35.2

3/15/2004 30.1 3/16/2005 43.6

3/16/2004 35.4 3/17/2005 48.9

3/17/2004 32.9 3/18/2005 43.0

3/18/2004 37.3 3/21/2005 47.5

3/19/2004 32.4 3/22/2005 44.8

3/22/2004 34.0 3/23/2005 42.0

3/23/2004 30.1 3/24/2005 41.2

3/24/2004 26.4 3/25/2005 34.2

3/25/2004 25.7 3/28/2005 36.1

3/26/2004 18.3 3/29/2005 34.4

3/29/2004 21.5 3/30/2005 34.2

3/30/2004 17.8 3/31/2005 22.4

3/31/2004 21.3 4/1/2005 10.2

4/1/2004 4.9 4/4/2005 14.6

4/2/2004 5.6 4/5/2005 9.7

4/5/2004 4.6 4/6/2005 12.4

4/6/2004 6.8 4/7/2005 12.8

4/7/2004 9.5 4/8/2005 6.3

4/8/2004 14.4 4/11/2005 10.1

4/9/2004 9.8 4/12/2005 13.0

4/12/2004 10.7 4/13/2005 12.5

4/13/2004 11.5 4/14/2005 5.4

4/14/2004 15.9 4/15/2005 18.4

4/15/2004 20.7 4/18/2005 27.7

4/16/2004 27.3 4/19/2005 46.9

4/19/2004 19.8 4/20/2005 55.6

4/20/2004 30.3 4/21/2005 41.9

4/21/2004 38.1 4/22/2005 45.0

4/22/2004 30.5 4/25/2005 59.5

4/23/2004 30.7 4/26/2005 80.3

4/26/2004 42.8 4/27/2005 84.6

4/27/2004 52.2 4/28/2005 72.8

4/28/2004 53.8 4/29/2005 76.4

4/29/2004 44.9 5/2/2005 83.2
4/30/2004 40.4 5/3/2005 67.3

5/3/2004 20.3 5/4/2005 71.2

5/4/2004 17.2 5/5/2005 51.4

5/5/2004 19.5 5/6/2005 49.7

5/6/2004 19.6 5/9/2005 53.2

5/7/2004 16.2 5/10/2005 49.5

5/10/2004 17.1 5/11/2005 46.5

5/11/2004 13.2 5/12/2005 31.1

5/12/2004 11.3 5/13/2005 28.2

5/13/2004 15.0 5/16/2005 30.8

5/14/2004 13.7 5/17/2005 30.5

5/17/2004 23.3 5/18/2005 27.8

5/18/2004 20.7 5/19/2005 21.2

5/19/2004 18.2 5/20/2005 18.4

5/20/2004 22.8 5/23/2005 20.7

5/21/2004 20.5 5/24/2005 15.6

5/24/2004 21.7 5/25/2005 12.7

5/25/2004 16.6 5/26/2005 13.6

5/26/2004 13.4 5/27/2005 14.6

5/27/2004 15.2 5/30/2005 14.6

5/28/2004 15.9 5/31/2005 16.6

5/31/2004 15.9 6/1/2005 9.5

6/1/2004 3.5 6/2/2005 12.6

6/2/2004 1.6 6/3/2005 5.6

6/3/2004 12.1 6/6/2005 4.9

6/4/2004 8.2 6/7/2005 11.2

6/7/2004 8.1 6/8/2005 8.0

6/8/2004 3.7 6/9/2005 5.0

6/9/2004 5.9 6/10/2005 5.7

6/10/2004 8.8 6/13/2005 11.3

6/11/2004 7.2 6/14/2005 17.9

6/14/2004 10.9 6/15/2005 49.3

6/15/2004 41.6 6/16/2005 45.5

6/16/2004 47.1 6/17/2005 46.7

6/17/2004 39.6 6/20/2005 52.5

6/18/2004 42.8 6/21/2005 63.0

6/21/2004 49.8 6/22/2005 64.2

6/22/2004 53.4 6/23/2005 44.1

6/23/2004 53.1 6/24/2005 44.0

6/24/2004 37.9 6/27/2005 49.7

6/25/2004 38.6 6/28/2005 46.9

6/28/2004 43.8 6/29/2005 51.8

6/29/2004 43.3 6/30/2005 33.2

6/30/2004 44.6 7/1/2005 10.1

7/1/2004 9.5 7/4/2005 10.1

7/2/2004 8.4 7/5/2005 11.9

7/5/2004 8.4 7/6/2005 9.1

7/6/2004 7.3 7/7/2005 6.8

7/7/2004 3.5 7/8/2005 6.1

7/8/2004 5.8 7/11/2005 7.9

7/9/2004 5.0 7/12/2005 7.7

7/12/2004 8.1 7/13/2005 5.3

7/13/2004 4.7 7/14/2005 11.4

7/14/2004 5.6 7/15/2005 14.4

7/15/2004 10.2 7/18/2005 23.1

7/16/2004 14.4 7/19/2005 19.7

7/19/2004 16.6 7/20/2005 19.9

7/20/2004 13.2 7/21/2005 25.4

7/21/2004 12.6 7/22/2005 27.3

7/22/2004 24.4 7/25/2005 31.4

7/23/2004 24.7 7/26/2005 29.3

7/26/2004 27.9 7/27/2005 26.7

7/27/2004 25.2 7/28/2005 32.0

7/28/2004 22.3 7/29/2005 41.0

7/29/2004 33.4 8/1/2005 27.0

7/30/2004 34.6 8/2/2005 26.6

8/2/2004 30.4 8/3/2005 8.8

8/3/2004 6.2 8/4/2005 11.2

8/4/2004 8.1 8/5/2005 9.6

8/5/2004 6.3 8/8/2005 12.9

8/6/2004 5.5 8/9/2005 9.9

8/9/2004 8.7 8/10/2005 8.2

8/10/2004 6.2 8/11/2005 6.6

8/11/2004 4.7 8/12/2005 5.7

8/12/2004 6.6 8/15/2005 8.6

8/13/2004 4.1 8/16/2005 12.9

8/16/2004 9.1 8/17/2005 12.3

8/17/2004 6.7 8/18/2005 14.4

8/18/2004 5.8 8/19/2005 16.3

8/19/2004 5.8 8/22/2005 20.5

8/20/2004 5.9 8/23/2005 17.8

8/23/2004 9.2 8/24/2005 14.4
8/24/2004 5.4 8/25/2005 13.8

8/25/2004 3.7 8/26/2005 11.1

8/26/2004 7.4 8/29/2005 14.7

8/27/2004 7.1 8/30/2005 10.4

8/30/2004 8.6 8/31/2005 8.6

8/31/2004 2.5 9/1/2005 6.3

9/1/2004 6.7 9/2/2005 7.2

9/2/2004 11.0 9/5/2005 7.2

9/3/2004 5.9 9/6/2005 8.1

9/6/2004 5.9 9/7/2005 5.9

9/7/2004 6.6 9/8/2005 10.1

9/8/2004 8.7 9/9/2005 7.1

9/9/2004 7.1 9/12/2005 10.7

9/10/2004 4.8 9/13/2005 11.2

9/13/2004 8.2 9/14/2005 7.8

9/14/2004 12.5 9/15/2005 40.6

9/15/2004 33.3 9/16/2005 49.2

9/16/2004 28.1 9/19/2005 55.9

9/17/2004 30.9 9/20/2005 70.6

9/20/2004 38.0 9/21/2005 72.9

9/21/2004 49.7 9/22/2005 60.1

9/22/2004 49.3 9/23/2005 60.9

9/23/2004 35.5 9/26/2005 63.6

9/24/2004 33.5 9/27/2005 60.5

9/27/2004 35.4 9/28/2005 57.5

9/28/2004 32.2 9/29/2005 50.3

9/29/2004 38.5 9/30/2005 35.7

9/30/2004 36.3
Treasury Quarterly Net Marketable Borrowing 

$ billions

Bills 2-under 5 years 5-10 years over 10 years Buybacks Totals

Calendar Year Quarters

1998 1Q 4.7 -14.1 16.9 2.8 10.3

2Q -79.0 -18.6 -8.7 8.4 -97.9

3Q -3.5 -9.3 -37.1 11.1 -38.8

4Q 53.3 -5.9 -26.5 3.1 24.0

1999 1Q 34.5 -1.8 -29.4 2.5 5.8

2Q -77.7 -0.1 -43.4 7.4 -113.8

3Q 5.3 3.4 -27.4 2.8 -15.9

4Q 83.9 0.6 -44.9 7.4 47.0

2000 1Q 16.2 -1.6 -34.7 2.0 -2.0 -20.1

2Q -123.4 -5.5 -49.5 -2.7 -11.0 -192.1

3Q -13.8 -26.6 -4.8 5.8 -8.3 -47.7

4Q 30.7 -30.9 -22.1 5.0 -8.8 -26.1

2001 1Q 65.2 -29.2 -19.5 9.4 -8.0 17.8

2Q -92.0 -34.1 -26.4 -1.8 -9.3 -163.4

3Q 114.8 -10.3 -26.1 3.8 -7.8 74.4

4Q 76.4 65.7 -84.7 3.3 -8.5 52.1

2002 1Q 23.2 26.6 8.7 -6.0 0.0 52.5

2Q -11.9 49.3 -18.3 0.0 -4.0 15.1

3Q 45.8 76.9 -38.5 0.0 0.0 84.2

4Q 20.5 68.6 -2.3 -4.2 0.0 82.6

2003 1Q 66.3 59.6 -11.5 -3.0 0.0 111.3

2Q -27.3 78.1 12.8 -3.2 0.0 60.3

3Q -9.6 62.7 34.0 -5.6 0.0 81.5

4Q 10.6 44.1 71.2 -12.5 0.0 113.4

2004 1Q 56.2 30.9 58.7 0.0 0.0 145.9

2Q -38.2 25.8 52.0 -8.4 0.0 31.3

3Q 14.7 16.7 50.6 7.0 0.0 89.0

4Q 41.7 20.4 48.2 -12.5 0.0 97.8

2005 1Q 55.9 12.5 67.0 8.7 0.0 144.2

2Q -135.7 17.5 46.9 -7.2 0.0 -78.5

3Q -9.2 7.3 57.4 -3.3 0.0 52.3

4Q
Treasury Quarterly Net Borrowing From NonMarketable Issues 

Calendar Year $ billions

Quarter Savings Bonds Foreign Series State and Local Govt. Series Total Calendar Year

I 00 -3.3 -0.9 -3.8 -8.0 2000

II -2.7 -0.6 -1.7 -5.0

III -2.4 -0.4 -7.3 -10.1

IV -1.7 1.7 -2.3 -2.2

I 01 -2.2 -1.1 1.9 -1.4 2001

II -1.4 -0.7 0.4 -1.7

III -1.4 -2.4 -6.8 -10.6

IV 1.9 -1.0 -0.1 0.8

I 02 -0.4 0.2 -5.2 -5.5 2002

II -1.1 -0.7 1.7 -0.1

III -1.4 -0.8 1.5 -0.7

IV -0.2 -1.3 9.1 7.6

I 03 0.1 -1.5 -1.0 -2.4 2003

II 0.5 -0.6 -8.3 -8.4

III 0.4 -0.7 7.9 7.6

IV 0.5 -0.5 0.8 0.8

I 04 -1.2 -0.8 6.5 4.5 2004

II -1.5 -0.3 5.8 3.9

III -2.1 -0.6 -3.3 -6.0

IV -1.4 0.0 2.5 1.1

I 05 -1.9 0.2 18.3 16.6 2005

II -1.7 -1.6 27.7 24.4

III -2.3 0.1 18.5 16.3
Year Outlays Revenue GDP Growth Net Interest

1960 17.8 17.9 5.4 1.3

1961 18.4 17.8 2.5 1.3

1962 18.8 17.6 6.9 1.2

1963 18.6 17.8 5.5 1.3

1964 18.5 17.6 7.0 1.3

1965 17.2 17.0 7.3 1.3

1966 17.9 17.4 9.6 1.2

1967 19.4 18.3 7.8 1.3

1968 20.6 17.7 6.8 1.3

1969 19.4 19.7 9.5 1.3

1970 19.3 19.0 6.7 1.4

1971 19.5 17.3 6.7 1.4

1972 19.6 17.6 9.1 1.3

1973 18.8 17.7 11.0 1.3

1974 18.7 18.3 10.1 1.5

1975 21.3 17.9 8.4 1.5

1976 21.4 17.2 11.3 1.5

1976.5 21.0 17.8 11.3 1.5

1977 20.7 18.0 13.7 1.5

1978 20.7 18.0 12.3 1.6

1979 20.2 18.5 12.8 1.7

1980 21.7 19.0 9.0 1.9

1981 22.2 19.6 12.0 2.3

1982 23.1 19.1 5.7 2.6

1983 23.5 17.5 6.6 2.6

1984 22.2 17.4 11.6 2.9

1985 22.9 17.7 7.8 3.1

1986 22.4 17.4 6.5 3.1

1987 21.6 18.4 5.3 3.0

1988 21.3 18.2 7.8 3.0

1989 21.2 18.4 7.8 3.1

1990 21.8 18.0 6.2 3.2

1991 22.3 17.8 3.5 3.3

1992 22.1 17.5 5.1 3.2

1993 21.4 17.6 5.4 3.0

1994 21.0 18.1 5.9 2.9

1995 20.7 18.5 5.2 3.2

1996 20.3 18.9 5.0 3.1

1997 19.6 19.3 6.3 3.0

1998 19.2 20.0 5.4 2.8

1999 18.7 20.0 5.8 2.5

2000 18.4 20.9 6.4 2.3

2001 18.5 19.8 3.6 2.0

2002 19.4 17.8 3.3 1.6

2003 19.9 16.4 4.3 1.4

2004 19.8 16.3 6.6 1.4

2005 20.1 17.4 6.2 1.5

2006 20.2 17.5 5.7 1.6

2007 19.5 17.7 5.5 1.7

2008 19.1 17.9 5.5 1.7

2009 19.0 17.9 5.3 1.7

2010 19.1 18.1 5.3 1.7

Estimate

Source: OMB MSR FY 2006

Drivers of Financing Needs

Percentage of GDP 
Net Marketable Borrowing and Hypothetical Auction Size % Change

Auction Size Net Borrowing

($ billion)

9/30/2005 216

9/30/2006 12.3% 349

9/30/2007 2.6% 260

9/30/2008 -1.9% 201

9/30/2009 4.2% 198

9/30/2010 1.5% 197
THE AVERAGE MATURITY OF TOTAL OUTSTANDING MARKETABLE DEBT AND 

A 1-YEAR MOVING AVERAGE OF THE AVERAGE MATURITY OF ISSUANCE

CIM Average Maturity 

1-Yr Moving Average Total Outstanding

(months) (months)

12/31/80 73.92 48.39

3/31/81 73.21 48.10

6/30/81 73.59 49.97

9/30/81 76.38 50.54

12/31/81 77.34 50.18

3/31/82 77.28 50.09

6/30/82 63.57 49.69

9/30/82 56.92 48.80

12/31/82 54.85 47.06

3/31/83 55.57 47.48

6/30/83 69.27 48.45

9/30/83 77.91 49.70

12/31/83 82.90 50.98

3/31/84 84.39 51.91

6/30/84 85.78 53.34

9/30/84 85.93 53.90

12/31/84 85.62 55.33

3/31/85 87.02 55.77

6/30/85 87.55 57.00

9/30/85 88.83 58.19

12/31/85 89.54 58.71

3/31/86 89.30 60.10

6/30/86 89.51 61.13

9/30/86 88.80 61.74

12/31/86 88.55 62.15

3/31/87 87.85 63.85

6/30/87 87.60 65.14

9/30/87 88.28 66.17

12/31/87 82.59 65.63

3/31/88 82.48 66.01

6/30/88 82.30 67.15

9/30/88 66.77 65.97

12/31/88 73.57 66.51

3/31/89 73.17 66.78

6/30/89 73.64 68.19

9/30/89 89.63 69.07

12/31/89 89.12 68.95

3/31/90 89.85 68.89

6/30/90 89.27 69.44

9/30/90 87.40 69.07

12/31/90 85.68 67.91

3/31/91 85.05 68.46

6/30/91 84.66 69.40

9/30/91 84.21 68.31

12/31/91 84.66 67.94

3/31/92 82.20 67.27

6/30/92 79.70 67.50

9/30/92 77.38 67.22

12/31/92 75.29 66.78
3/31/93 74.43 66.77

6/30/93 72.52 66.58

9/30/93 73.37 66.80

12/31/93 60.98 64.68

3/31/94 62.11 64.55

6/30/94 51.37 64.18

9/30/94 51.43 64.27

12/31/94 51.28 62.81

3/31/95 51.26 62.05

6/30/95 51.18 61.27

9/30/95 51.76 61.72

12/31/95 51.87 60.36

3/31/96 52.37 60.09

6/30/96 52.44 60.36

9/30/96 50.34 60.58

12/31/96 62.21 60.93

3/31/97 60.32 60.93

6/30/97 61.29 61.96

9/30/97 62.09 62.39

12/31/97 63.28 62.52

3/31/98 64.64 63.11

6/30/98 74.90 65.14

9/30/98 83.89 66.84

12/31/98 85.12 65.11

3/31/99 87.44 65.28

6/30/99 87.65 67.39

9/30/99 80.96 68.19

12/31/99 78.40 66.88

3/31/00 78.73 67.43

6/30/00 67.32 69.39

9/30/00 63.90 70.06

12/31/00 61.73 69.42

3/31/01 62.06 68.81

6/30/01 62.07 70.90

9/30/01 60.14 68.33

12/31/01 57.78 66.01

3/31/02 41.76 64.94

6/30/02 40.66 63.82

9/30/02 32.27 62.09

12/31/02 25.48 60.47

3/31/03 25.89 58.59

6/30/03 26.62 57.63

9/30/03 27.49 57.21

12/31/03 28.42 56.30

3/31/04 29.38 54.94

6/30/04 30.93 55.13

9/30/04 33.83 55.08

12/31/04 33.41 54.31

3/31/05 36.81 53.34

6/30/05 36.77 54.73

9/30/05 35.95 54.25

9/30/06 53 54 Projected

9/30/07 54 54

9/30/08 53 55

9/30/09 54 55

9/30/10 53 55
Distribution of Marketable Debt Outstanding

Date Bills 2-3 yrs 4-7 yrs 10 yrs Bonds TIPS

9/30/1980 32.7% 20.3% 25.7% 7.6% 13.7% 0.0%

9/30/1981 32.4% 20.7% 26.3% 6.6% 14.0% 0.0%

9/30/1982 33.5% 21.3% 24.3% 8.4% 12.5% 0.0%

9/30/1983 33.1% 23.6% 22.2% 8.9% 12.2% 0.0%

9/30/1984 30.2% 25.5% 21.2% 9.8% 13.4% 0.0%

9/30/1985 28.1% 24.6% 22.1% 10.6% 14.6% 0.0%

9/30/1986 26.2% 23.4% 24.4% 10.6% 15.4% 0.0%

9/30/1987 22.6% 23.9% 25.1% 11.9% 16.6% 0.0%

9/30/1988 22.3% 22.2% 25.7% 13.0% 16.8% 0.0%

9/30/1989 21.6% 20.7% 25.6% 14.2% 18.0% 0.0%

9/30/1990 23.1% 20.1% 24.2% 14.4% 18.2% 0.0%

9/30/1991 23.8% 20.9% 23.3% 14.2% 17.8% 0.0%

9/30/1992 23.8% 21.2% 23.8% 13.8% 17.3% 0.0%

9/30/1993 22.8% 21.5% 24.8% 13.7% 17.2% 0.0%

9/30/1994 22.7% 21.7% 25.1% 13.9% 16.6% 0.0%

9/30/1995 22.7% 21.5% 25.9% 13.9% 16.0% 0.0%

9/30/1996 22.4% 21.5% 25.8% 14.4% 16.0% 0.0%

9/30/1997 20.5% 21.4% 25.7% 15.0% 16.8% 0.7%

9/30/1998 19.2% 19.7% 25.1% 15.9% 18.4% 1.8%

9/30/1999 20.3% 17.9% 22.2% 16.8% 20.0% 2.9%

9/30/2000 20.6% 16.2% 19.9% 18.2% 21.2% 3.8%

9/30/2001 25.2% 13.3% 16.8% 19.1% 21.0% 4.6%

9/30/2002 27.8% 18.2% 13.2% 17.4% 19.0% 4.4%

9/30/2003 26.5% 23.7% 11.5% 16.8% 16.7% 4.8%

9/30/2004 25.0% 24.4% 13.6% 16.9% 14.4% 5.8%

9/30/2005 22.6% 23.9% 15.9% 17.1% 12.8% 7.5%

9/30/2006 22.3% 22.8% 17.6% 16.3% 12.1% 8.9%

9/30/2007 21.6% 21.7% 19.0% 15.9% 11.9% 10.1%

9/30/2008 20.3% 20.9% 19.8% 16.5% 11.5% 11.2%

9/30/2009 20.2% 20.4% 19.3% 16.5% 11.4% 12.3%

9/30/2010 19.6% 20.1% 18.9% 17.0% 11.4% 12.9%
Percentage of Debt Maturing in Next 12 to 36 Months

Date

maturing in 12 

months

maturing in 24 

months

maturing in 

36 months

12/31/80 47.7% 63.0% 70.3%

3/31/81 48.2% 63.5% 70.5%

6/30/81 47.1% 62.1% 69.7%

9/30/81 46.7% 62.0% 70.4%

12/31/81 47.2% 62.2% 70.8%

3/31/82 47.4% 62.1% 70.7%

6/30/82 46.5% 62.1% 70.8%

9/30/82 46.4% 61.5% 69.5%

12/31/82 47.6% 63.1% 70.4%

3/31/83 47.2% 62.8% 69.8%

6/30/83 46.3% 62.4% 69.4%

9/30/83 45.5% 61.9% 69.1%

12/31/83 45.7% 61.0% 68.8%

3/31/84 45.3% 60.2% 68.6%

6/30/84 44.4% 59.5% 67.6%

9/30/84 44.6% 59.7% 66.9%

12/31/84 43.6% 59.5% 66.4%

3/31/85 43.5% 59.2% 65.8%

6/30/85 42.8% 58.2% 65.4%

9/30/85 42.0% 57.3% 64.9%

12/31/85 42.0% 56.8% 64.5%

3/31/86 41.4% 55.7% 63.5%

6/30/86 40.7% 55.5% 63.1%

9/30/86 39.9% 55.1% 62.7%

12/31/86 39.7% 55.0% 62.7%

3/31/87 38.0% 53.5% 61.7%

6/30/87 37.3% 52.7% 60.9%

9/30/87 36.9% 52.3% 60.8%

12/31/87 37.1% 52.3% 60.8%

3/31/88 37.0% 52.2% 60.4%

6/30/88 36.2% 51.4% 59.7%

9/30/88 36.5% 51.7% 59.9%

12/31/88 37.3% 51.9% 59.9%

3/31/89 36.8% 51.5% 59.6%

6/30/89 35.6% 50.6% 59.1%

9/30/89 36.1% 50.4% 58.9%

12/31/89 36.6% 50.5% 59.0%

3/31/90 36.7% 50.6% 59.3%

6/30/90 36.4% 50.7% 59.1%

9/30/90 36.7% 51.1% 59.6%

12/31/90 37.1% 51.8% 60.5%

3/31/91 37.1% 51.6% 60.0%

6/30/91 36.5% 50.8% 59.5%

9/30/91 36.9% 51.5% 59.8%

12/31/91 37.1% 52.0% 59.9%

3/31/92 37.5% 52.1% 59.7%

6/30/92 36.9% 51.7% 59.0%

9/30/92 36.9% 51.7% 58.6%
12/31/92 37.4% 51.7% 58.2%

3/31/93 36.9% 51.0% 58.4%

6/30/93 36.7% 50.4% 58.8%

9/30/93 36.4% 49.9% 58.7%

12/31/93 37.2% 50.3% 60.6%

3/31/94 36.8% 50.9% 60.6%

6/30/94 35.9% 51.1% 60.6%

9/30/94 35.4% 51.0% 60.9%

12/31/94 36.2% 52.2% 61.2%

3/31/95 36.8% 52.5% 62.4%

6/30/95 37.4% 52.9% 62.7%

9/30/95 37.7% 53.5% 63.6%

12/31/95 38.8% 53.7% 63.7%

3/31/96 39.2% 54.2% 63.6%

6/30/96 38.2% 53.7% 63.4%

9/30/96 37.4% 53.7% 63.1%

12/31/96 37.3% 53.7% 63.0%

3/31/97 37.7% 53.9% 63.1%

6/30/97 36.4% 52.9% 62.3%

9/30/97 36.7% 52.7% 61.7%

12/31/97 37.2% 52.8% 61.4%

3/31/98 37.3% 52.7% 60.9%

6/30/98 35.9% 51.6% 59.5%

9/30/98 35.8% 51.4% 59.2%

12/31/98 36.8% 52.1% 61.1%

3/31/99 37.6% 52.8% 61.1%

6/30/99 36.3% 51.9% 60.1%

9/30/99 36.4% 51.9% 60.8%

12/31/99 38.2% 53.5% 60.7%

3/31/00 38.9% 53.3% 61.2%

6/30/00 37.2% 51.6% 59.6%

9/30/00 37.4% 52.6% 59.8%

12/31/00 38.8% 52.7% 59.0%

3/31/01 39.4% 53.4% 58.4%

6/30/01 37.3% 51.7% 56.8%

9/30/01 40.6% 54.0% 58.4%

12/31/01 41.2% 55.0% 60.4%

3/31/02 41.6% 55.7% 60.4%

6/30/02 40.5% 56.2% 61.2%

9/30/02 40.3% 56.6% 61.1%

12/31/02 40.9% 58.4% 62.7%

3/31/03 41.9% 58.7% 63.0%

6/30/03 42.0% 58.7% 63.4%

9/30/03 41.5% 57.2% 62.6%

12/31/03 41.8% 56.6% 63.0%

3/31/04 41.5% 55.7% 62.9%

6/30/04 40.2% 54.9% 61.9%

9/30/04 39.1% 54.2% 61.6%

12/31/04 38.9% 54.4% 61.0%

3/31/05 38.9% 54.6% 61.6%

6/30/05 36.7% 52.4% 60.1%

9/30/05 36.7% 52.4% 59.9%

9/30/06 37.5% 51.7% 60.5%

9/30/07 36.2% 51.6% 59.6%

9/30/08 35.6% 50.5% 58.3%

9/30/09 34.5% 49.3% 57.3%

9/30/10 33.8% 48.6% 57.1%
Percentage Breakdown of Annual Issuance

ISSUANCE

Date Bills 2-3 yrs 4-7 yrs 10 yrs Bonds TIPS

12/31/80 61.2% 20.5% 10.8% 2.9% 4.6% 0.0%

3/31/81 61.6% 20.0% 10.7% 3.5% 4.3% 0.0%

6/30/81 61.2% 19.6% 11.7% 3.2% 4.2% 0.0%

9/30/81 61.0% 19.2% 12.6% 2.9% 4.3% 0.0%

12/31/81 62.7% 19.3% 11.3% 2.7% 4.0% 0.0%

3/31/82 61.3% 21.4% 10.5% 2.6% 4.1% 0.0%

6/30/82 61.2% 22.8% 9.7% 3.3% 3.0% 0.0%

9/30/82 61.0% 21.6% 11.5% 3.5% 2.4% 0.0%

12/31/82 61.3% 22.1% 11.0% 3.6% 2.1% 0.0%

3/31/83 60.0% 22.4% 11.4% 3.8% 2.4% 0.0%

6/30/83 58.0% 22.5% 12.4% 3.6% 3.5% 0.0%

9/30/83 58.1% 23.0% 10.8% 3.6% 4.4% 0.0%

12/31/83 57.0% 23.3% 10.7% 3.8% 5.2% 0.0%

3/31/84 57.0% 23.1% 10.5% 4.0% 5.4% 0.0%

6/30/84 55.4% 23.9% 10.9% 4.1% 5.7% 0.0%

9/30/84 56.4% 23.3% 10.7% 3.9% 5.6% 0.0%

12/31/84 55.7% 22.4% 12.6% 3.8% 5.6% 0.0%

3/31/85 56.4% 22.4% 11.6% 3.8% 5.7% 0.0%

6/30/85 55.7% 22.7% 11.8% 3.9% 5.9% 0.0%

9/30/85 54.9% 22.9% 11.9% 4.1% 6.1% 0.0%

12/31/85 55.1% 22.8% 11.8% 4.1% 6.2% 0.0%

3/31/86 53.9% 22.7% 12.8% 4.2% 6.3% 0.0%

6/30/86 53.7% 22.9% 12.9% 4.5% 6.0% 0.0%

9/30/86 54.0% 23.0% 12.7% 4.7% 5.6% 0.0%

12/31/86 54.6% 23.3% 11.9% 5.0% 5.2% 0.0%

3/31/87 53.0% 24.5% 12.3% 5.3% 4.9% 0.0%

6/30/87 51.8% 25.2% 12.7% 5.4% 5.0% 0.0%

9/30/87 53.5% 24.7% 11.7% 5.2% 4.9% 0.0%

12/31/87 54.4% 24.0% 12.3% 5.1% 4.2% 0.0%

3/31/88 53.8% 24.2% 12.7% 5.1% 4.3% 0.0%

6/30/88 52.8% 24.8% 12.8% 5.2% 4.4% 0.0%

9/30/88 53.9% 24.3% 13.4% 5.3% 3.0% 0.0%

12/31/88 55.4% 24.3% 11.3% 5.4% 3.6% 0.0%

3/31/89 54.6% 24.0% 12.4% 5.3% 3.6% 0.0%

6/30/89 53.5% 24.4% 12.8% 5.5% 3.8% 0.0%

9/30/89 52.9% 24.6% 12.0% 5.4% 5.2% 0.0%

12/31/89 53.1% 24.1% 12.6% 5.2% 5.0% 0.0%

3/31/90 53.9% 24.4% 11.4% 5.3% 5.1% 0.0%

6/30/90 54.4% 24.3% 11.2% 5.1% 4.9% 0.0%

9/30/90 54.9% 23.8% 11.7% 4.9% 4.7% 0.0%

12/31/90 56.6% 22.6% 11.9% 4.6% 4.4% 0.0%

3/31/91 55.7% 23.2% 12.1% 4.6% 4.4% 0.0%

6/30/91 53.2% 24.1% 13.2% 4.8% 4.6% 0.0%

9/30/91 54.1% 23.1% 13.7% 4.6% 4.5% 0.0%

12/31/91 54.3% 23.1% 13.5% 4.6% 4.5% 0.0%

3/31/92 53.7% 23.2% 14.3% 4.5% 4.3% 0.0%

6/30/92 54.5% 22.9% 14.4% 4.3% 4.0% 0.0%

9/30/92 54.6% 23.1% 14.5% 4.1% 3.7% 0.0%
12/31/92 55.3% 22.7% 14.6% 3.9% 3.5% 0.0%

3/31/93 53.8% 23.3% 15.4% 4.0% 3.5% 0.0%

6/30/93 53.4% 23.6% 15.7% 4.0% 3.3% 0.0%

9/30/93 55.3% 23.0% 14.4% 3.9% 3.3% 0.0%

12/31/93 56.7% 23.3% 13.5% 4.1% 2.4% 0.0%

3/31/94 56.5% 24.0% 12.8% 4.2% 2.5% 0.0%

6/30/94 57.1% 24.6% 12.0% 4.4% 1.8% 0.0%

9/30/94 56.3% 25.2% 12.1% 4.5% 1.8% 0.0%

12/31/94 57.5% 24.6% 11.7% 4.3% 1.8% 0.0%

3/31/95 57.9% 24.4% 11.6% 4.3% 1.8% 0.0%

6/30/95 57.9% 24.3% 11.6% 4.4% 1.8% 0.0%

9/30/95 57.6% 24.5% 11.5% 4.5% 1.9% 0.0%

12/31/95 58.0% 24.1% 11.5% 4.5% 1.9% 0.0%

3/31/96 58.4% 23.7% 11.4% 4.6% 1.9% 0.0%

6/30/96 57.7% 24.2% 11.6% 4.6% 1.9% 0.0%

9/30/96 56.5% 24.6% 12.0% 5.2% 1.8% 0.0%

12/31/96 55.7% 24.4% 12.0% 5.5% 2.5% 0.0%

3/31/97 55.0% 24.6% 12.2% 5.4% 2.4% 0.5%

6/30/97 53.3% 24.9% 12.7% 5.5% 2.5% 1.2%

9/30/97 54.2% 24.0% 12.6% 4.8% 2.5% 1.9%

12/31/97 55.0% 23.3% 12.4% 4.2% 2.6% 2.6%

3/31/98 54.8% 22.8% 12.6% 4.3% 2.7% 2.7%

6/30/98 54.4% 22.4% 13.0% 4.6% 2.8% 2.9%

9/30/98 55.6% 22.0% 11.8% 4.7% 3.0% 2.9%

12/31/98 58.7% 20.9% 10.1% 4.6% 2.9% 2.9%

3/31/99 58.6% 21.8% 8.7% 4.8% 3.1% 3.1%

6/30/99 59.5% 22.3% 7.0% 4.9% 3.2% 3.1%

9/30/99 60.9% 21.7% 6.6% 4.9% 3.0% 2.9%

12/31/99 62.6% 21.2% 6.6% 4.8% 2.0% 2.8%

3/31/00 62.6% 21.2% 6.5% 5.1% 2.1% 2.6%

6/30/00 62.7% 21.4% 6.6% 5.0% 2.2% 2.1%

9/30/00 64.0% 20.9% 6.4% 5.0% 1.8% 1.9%

12/31/00 66.4% 19.5% 6.0% 4.7% 1.7% 1.7%

3/31/01 67.0% 18.9% 5.9% 4.7% 1.7% 1.7%

6/30/01 66.5% 18.9% 6.2% 4.9% 1.8% 1.7%

9/30/01 69.5% 17.8% 5.3% 4.3% 1.6% 1.5%

12/31/01 68.9% 19.1% 5.0% 4.3% 1.4% 1.4%

3/31/02 67.0% 22.1% 5.1% 4.1% 0.4% 1.3%

6/30/02 63.2% 25.7% 5.5% 4.0% 0.4% 1.2%

9/30/02 61.5% 26.8% 6.0% 4.2% 0.0% 1.5%

12/31/02 60.9% 27.1% 6.1% 4.3% 0.0% 1.6%

3/31/03 61.5% 26.1% 6.5% 4.4% 0.0% 1.5%

6/30/03 59.4% 27.2% 7.0% 4.8% 0.0% 1.5%

9/30/03 57.6% 27.7% 7.6% 5.6% 0.0% 1.5%

12/31/03 55.5% 28.0% 8.9% 6.1% 0.0% 1.6%

3/31/04 55.1% 27.4% 9.5% 6.2% 0.0% 1.8%

6/30/04 52.9% 27.8% 10.4% 6.7% 0.0% 2.3%

9/30/04 54.1% 26.7% 10.5% 6.0% 0.0% 2.7%

12/31/04 54.5% 26.1% 10.4% 5.6% 0.0% 3.4%

3/31/05 55.6% 25.2% 10.1% 5.3% 0.0% 3.8%

6/30/05 52.4% 26.6% 10.8% 5.6% 0.0% 4.6%

9/30/05 52.9% 26.3% 10.8% 5.7% 0.0% 4.4%

9/30/06 54.5% 23.5% 10.6% 5.5% 1.4% 4.5%

9/30/07 53.6% 24.7% 10.4% 5.4% 1.5% 4.5%

9/30/08 52.3% 25.9% 10.7% 5.4% 1.4% 4.4%

9/30/09 53.2% 24.6% 10.9% 5.4% 1.5% 4.5%

9/30/10 53.2% 24.9% 10.5% 5.4% 1.5% 4.5%
Bills 2-under 5yr 5-10yr over 10yr buyback tot NB tot

9/30/1998 -64 -44 -26 25 0 -45 -109

9/30/1999 15 -4 -127 16 0 -115 -100

9/30/2000 -37 -33 -134 13 -21 -176 -213

9/30/2001 119 -105 -94 16 -34 -216 -97

9/30/2002 133 218 -133 -3 -13 71 204

9/30/2003 50 269 33 -16 0 286 336

9/30/2004 43 118 233 -14 0 336 379

9/30/2005 -47 58 220 -14 0 263 216

9/30/2006 74 14 228 34 0 276 349

9/30/2007 27 5 182 46 0 233 260

9/30/2008 -20 11 184 27 0 221 201

9/30/2009 39 18 99 42 0 159 198

9/30/2010 12 30 109 47 0 185 197

Annual Net Marketable Borrowing
Primary Dealers* CBO OMB

Current: 376 314 341

Range based on average absolute forecast error 261-491 183-445 196-486

Estimates as of: Oct. 27, 05 Sept. 05 July 05

Note: Ranges based on errors from 1997-2005.

* Primary Dealers reflect average estimate.

FY 06 Deficit Estimates 

($ Billions)
Financing Residuals Given Current Issuance Pattern

$ billions, Fiscal Year

Budget estimates 2006 2007 2008 2009 2010

line Plus average absolute error in OMB estimate 400 376 379 452 533

OMB FY2006 Budget--- Net Financing 351 254 184 184 192

Minus average absolute error in OMB estimate 302 132 -11 -84 -149

Note: (+) Deficit, (-) Surplus

Estimated financing changes from current pattern

bar Plus average absolute error in OMB estimate 188 232 213 360 427

OMB FY2006 Budget--- Net Financing 139 110 18 92 86

Minus average absolute error in OMB estimate 90 -12 -177 -176 -255

note: (-) implies less financing required

 (+) implies more financing required 

Assumes current coupon issuance pattern and issuance amount--Weekly bill issuance at levels required to maintain outstanding

FY $ amounts nearly equal to September 30, 2005 total outstanding.

Potential errors were estimated with a linear least-squares regression using OMB’s budget forecasts since the 

1989 Budget and OMB’s Mid-Sessions Reviews since the MSR for the 1998 Budget. 
Calendar Estimated foreign holdings Foreign and International Institutional Holdings at FRBNY

 Quarter as % of private. 2/ as % of private. 3/

1993 1Q 20% 10%

2Q 20% 11%

3Q 21% 11%

4Q 21% 11%

1994 1Q 21% 12%

2Q 21% 12%

3Q 22% 13%

4Q 21% 13%

1995 1Q 22% 13%

2Q 23% 14%

3Q 25% 15%

4Q 25% 15%

1996 1Q 27% 16%

2Q 28% 16%

3Q 29% 17%

4Q 32% 18%

1997 1Q 34% 19%

2Q 35% 19%

3Q 36% 19%

4Q 36% 18%

1998 1Q 36% 18%

2Q 38% 18%

3Q 37% 17%

4Q 38% 18%

1999 1Q 38% 18%

2Q 39% 19%

3Q 40% 19%

4Q 39% 20%

2000 1Q 35% 20%

2Q 36% 21%

3Q 36% 21%

4Q 36% 20%

2001 1Q 36% 21%

2Q 37% 21%

3Q 36% 22%

4Q 37% 21%

2002 1Q 37% 21%

2Q 40% 22%

3Q 41% 22%

4Q 41% 23%

2003 1Q 42% 23%

2Q 44% 24%

3Q 45% 24%

4Q 45% 26%

2004 1Q 48% 27%

2Q 50% 28%

3Q 51% 29%

4Q 52% 29%

2005 1Q 51% 28%

2Q 53% 29%

3Q* 53% 28%

1/ Privately held debt excludes holdings of the Federal Reserve System.

2/ Series for estimated foreign holdings. See www.treas.gov/tic/index.html for source data.

3/ Source: Federal Reserve Bank of New York statistical release H4.1.

* Estimated foreign holdings data through August 31, 2005.

 FOREIGN HOLDINGS AS A PERCENT OF TOTAL PRIVATELY HELD PUBLIC DEBT 1/
$ billions

End of Month Short-term Treasuries Commercial paper + open market paper Money Market Short-term Treasuries % of total

Mar-85 552.1 317.9 869.9 63%

Jun-85 561.3 326.9 888.2 63%

Sep-85 571.2 343.5 914.6 62%

Dec-85 597.5 358.5 956.0 62%

Mar-86 603.6 359.8 963.4 63%

Jun-86 609.3 374.3 983.7 62%

Sep-86 618.6 388.9 1007.4 61%

Dec-86 637.2 384.9 1022.1 62%

Mar-87 615.8 396.2 1012.0 61%

Jun-87 612.7 414.6 1027.3 60%

Sep-87 613.5 421.2 1034.6 59%

Dec-87 634.4 437.9 1072.3 59%

Mar-88 644.6 447.5 1092.1 59%

Jun-88 635.2 474.8 1110.0 57%

Sep-88 653.4 484.7 1138.0 57%

Dec-88 673.3 513.4 1186.7 57%

Mar-89 682.6 543.0 1225.7 56%

Jun-89 663.7 562.2 1225.9 54%

Sep-89 677.2 569.6 1246.8 54%

Dec-89 705.8 579.2 1285.0 55%

Mar-90 727.5 594.4 1321.9 55%

Jun-90 732.3 594.0 1326.3 55%

Sep-90 762.5 612.9 1375.3 55%

Dec-90 808.2 609.9 1418.1 57%

Mar-91 820.7 607.8 1428.5 57%

Jun-91 823.4 583.6 1407.0 59%

Sep-91 876.0 572.0 1448.0 60%

Dec-91 911.8 565.9 1477.7 62%

Mar-92 951.2 574.1 1525.3 62%

Jun-92 954.9 579.9 1534.8 62%

Sep-92 981.5 583.6 1565.0 63%

Dec-92 1024.0 579.0 1603.0 64%

Mar-93 1029.6 565.5 1595.1 65%

Jun-93 1044.3 572.0 1616.3 65%

Sep-93 1052.7 568.2 1620.9 65%

Dec-93 1105.7 580.0 1685.7 66%

Mar-94 1115.7 582.1 1697.8 66%

Jun-94 1089.3 588.0 1677.3 65%

Sep-94 1087.9 599.2 1687.1 64%

Dec-94 1125.4 623.5 1748.9 64%

Mar-95 1182.5 654.7 1837.3 64%

Jun-95 1210.9 673.8 1884.7 64%

Sep-95 1224.1 692.7 1916.9 64%

Dec-95 1278.7 700.4 1979.0 65%

Mar-96 1315.8 717.6 2033.4 65%

Jun-96 1273.9 753.6 2027.4 63%

Sep-96 1274.3 777.4 2051.7 62%

Dec-96 1285.1 803.0 2088.0 62%

Mar-97 1314.2 861.1 2175.3 60%

Jun-97 1243.7 893.1 2136.8 58%

Sep-97 1256.4 925.7 2182.1 58%

Dec-97 1279.5 979.4 2259.0 57%

Mar-98 1286.7 1074.8 2361.5 54%

Jun-98 1204.0 1112.7 2316.7 52%

Sep-98 1186.8 1165.1 2351.9 50%

Dec-98 1230.4 1172.6 2403.0 51%

Mar-99 1257.5 1227.6 2485.1 51%

Jun-99 1173.5 1243.3 2416.9 49%

Sep-99 1170.2 1284.5 2454.6 48%

Dec-99 1247.8 1402.4 2650.3 47%

 as a Percentage of the Money Market

Treasury Securities with 1 Year or Less Remaining to Maturity or Call 
$ billions

End of Month Short-term Treasuries Commercial paper + open market paper Money Market Short-term Treasuries % of total

 as a Percentage of the Money Market

Mar-00 1261.4 1478.1 2739.6 46%

Jun-00 1136.0 1534.3 2670.2 43%

Sep-00 1115.0 1570.8 2685.9 42%

Dec-00 1145.2 1614.0 2759.2 42%

Mar-01 1182.2 1558.8 2741.0 43%

Jun-01 1060.8 1490.9 2551.8 42%

Sep-01 1185.0 1437.5 2622.5 45%

Dec-01 1221.8 1466.2 2688.0 45%

Mar-02 1256.5 1407.0 2663.6 47%

Jun-02 1228.9 1351.0 2579.9 48%

Sep-02 1259.7 1351.2 2610.9 48%

Dec-02 1307.4 1374.7 2682.1 49%

Mar-03 1387.6 1359.2 2746.8 51%

Jun-03 1418.6 1317.1 2735.7 52%

Sep-03 1436.1 1294.5 2730.6 53%

Dec-03 1492.6 1293.1 2785.7 54%

Mar-04 1543.2 1340.4 2883.6 54%

Jun-04 1510.8 1314.2 2825.0 53%

Sep-04 1504.0 1320.5 2824.5 53%

Dec-04 1533.6 1406.7 2940.3 52%

Mar-05 1590.1 1436.1 3026.2 53%

Jun-05 1474.8 1535.9 3010.8 49%

*Money market = Treasury bills, commerical paper, and bankers acceptances. 

SOURCE = Federal Reserve, Flow of Funds Z.1 56%
TIPS turnover Nominal Treasuries turnover

4/22/1998 0.019460532 0.079933875

4/29/1998 0.020858096 0.079779738

5/6/1998 0.022127408 0.081055505

5/13/1998 0.023036131 0.081356342

5/20/1998 0.023897413 0.080506742

5/27/1998 0.023082492 0.079532901

6/3/1998 0.022219602 0.079291078

6/10/1998 0.022085177 0.079027155

6/17/1998 0.022221455 0.080724569

6/24/1998 0.022733661 0.082006382

7/1/1998 0.022899697 0.080933375

7/8/1998 0.01845385 0.078101193

7/15/1998 0.020695187 0.076502274

7/22/1998 0.020262614 0.075779508

7/29/1998 0.019436204 0.073522989

8/5/1998 0.01860762 0.072110651

8/12/1998 0.017379621 0.071276568

8/19/1998 0.017473498 0.07172116

8/26/1998 0.017692177 0.073287091

9/2/1998 0.018400589 0.076775328

9/9/1998 0.018632561 0.077551059

9/16/1998 0.019050255 0.077868115

9/23/1998 0.020141197 0.077652127

9/30/1998 0.019627461 0.078888517

10/7/1998 0.017168842 0.083086731

10/14/1998 0.018532588 0.086642898

10/21/1998 0.019010676 0.088227801

10/28/1998 0.020008559 0.089843351

11/4/1998 0.020709969 0.091085182

11/11/1998 0.020505218 0.091948301

11/18/1998 0.020447161 0.09244743

11/25/1998 0.019635058 0.089957482

12/2/1998 0.01898805 0.085626204

12/9/1998 0.017453043 0.084580331

12/16/1998 0.015518788 0.081431216

12/23/1998 0.014564783 0.077753458

12/30/1998 0.013210158 0.074059425

1/6/1999 0.010285446 0.070873441

1/13/1999 0.013345102 0.069492029

1/20/1999 0.012656876 0.068993962

1/27/1999 0.012355854 0.067827917

2/3/1999 0.012734956 0.067618239

2/10/1999 0.01288301 0.066788823

2/17/1999 0.012646153 0.065944707

2/24/1999 0.013056629 0.066145881

3/3/1999 0.013567831 0.068019543

3/10/1999 0.013854871 0.068258716

3/17/1999 0.014099307 0.068133034

3/24/1999 0.014016314 0.069609358

3/31/1999 0.014015977 0.071951581

4/7/1999 0.010055198 0.071611549

4/14/1999 0.01142263 0.070034868

4/21/1999 0.012034858 0.069225479

4/28/1999 0.012171614 0.06929517

5/5/1999 0.01160938 0.069329631

5/12/1999 0.012250631 0.06847652

5/19/1999 0.01229646 0.069822367

5/26/1999 0.012682839 0.070257079

6/2/1999 0.012794221 0.070300179

6/9/1999 0.013595675 0.069443478

6/16/1999 0.013985805 0.070576894

6/23/1999 0.015295946 0.071153703
6/30/1999 0.016572246 0.070779045

7/7/1999 0.015197157 0.072220814

7/14/1999 0.016449254 0.071963056

7/21/1999 0.016768088 0.071779168

7/28/1999 0.016356664 0.071347299

8/4/1999 0.016030616 0.070978077

8/11/1999 0.015395842 0.071558749

8/18/1999 0.015068214 0.070446585

8/25/1999 0.014909088 0.069405468

9/1/1999 0.013976402 0.068926994

9/8/1999 0.014139776 0.068570468

9/15/1999 0.012940653 0.067750612

9/22/1999 0.011702697 0.066014581

9/29/1999 0.010826619 0.066027949

10/6/1999 0.008794675 0.066755842

10/13/1999 0.009200977 0.066475331

10/20/1999 0.009413635 0.066417549

10/27/1999 0.00988493 0.066386384

11/3/1999 0.009698629 0.067070872

11/10/1999 0.009109871 0.067482669

11/17/1999 0.009144096 0.067870602

11/24/1999 0.009229656 0.067585473

12/1/1999 0.008957581 0.06725829

12/8/1999 0.009066216 0.067633225

12/15/1999 0.009099913 0.067311418

12/22/1999 0.009239219 0.067909896

12/29/1999 0.008892705 0.065207957

1/5/2000 0.007108084 0.064629206

1/12/2000 0.007228107 0.065436461

1/19/2000 0.008469031 0.065965067

1/26/2000 0.009125699 0.067483933

2/2/2000 0.009400958 0.069902681

2/9/2000 0.009899845 0.071128703

2/16/2000 0.010417924 0.071288791

2/23/2000 0.010209446 0.072536557

3/1/2000 0.010180449 0.073941763

3/8/2000 0.010254412 0.074511704

3/15/2000 0.010521781 0.075232786

3/22/2000 0.011083573 0.075648991

3/29/2000 0.01158611 0.079873474

4/5/2000 0.011787496 0.083462271

4/12/2000 0.010589879 0.084327678

4/19/2000 0.010188313 0.08526937

4/26/2000 0.010606588 0.083616655

5/3/2000 0.010121115 0.083684075

5/10/2000 0.010316482 0.081726403

5/17/2000 0.010570949 0.081096271

5/24/2000 0.010487803 0.080645593

5/31/2000 0.01042275 0.079268525

6/7/2000 0.010182555 0.08256423

6/14/2000 0.010345667 0.082132967

6/21/2000 0.010375891 0.082304951

6/28/2000 0.010214637 0.080696273

7/5/2000 0.009582307 0.07930707

7/12/2000 0.009545419 0.077935734

7/19/2000 0.010525368 0.076368582

7/26/2000 0.010222342 0.076346671

8/2/2000 0.009494692 0.075638031

8/9/2000 0.009494199 0.075086423

8/16/2000 0.010213151 0.07466959

8/23/2000 0.010227484 0.07301955

8/30/2000 0.010554155 0.072179295

9/6/2000 0.010486293 0.071456766
9/13/2000 0.011272515 0.071548805

9/20/2000 0.011916386 0.07381988

9/27/2000 0.012071524 0.07531023

10/4/2000 0.012645165 0.077688327

10/11/2000 0.01134686 0.079443836

10/18/2000 0.013872918 0.081766053

10/25/2000 0.014857739 0.083918109

11/1/2000 0.015329394 0.086762903

11/8/2000 0.014705085 0.088225712

11/15/2000 0.014793242 0.089059519

11/22/2000 0.014343888 0.08948339

11/29/2000 0.014158568 0.091451927

12/6/2000 0.013616505 0.097073108

12/13/2000 0.013355986 0.099961192

12/20/2000 0.013681095 0.100207753

12/27/2000 0.013575671 0.098446454

1/3/2001 0.013505743 0.100108926

1/10/2001 0.011944429 0.104765742

1/17/2001 0.014204211 0.106323084

1/24/2001 0.014603075 0.108366061

1/31/2001 0.015671155 0.110003439

2/7/2001 0.015949189 0.11337034

2/14/2001 0.01662371 0.11587234

2/21/2001 0.016467831 0.119242028

2/28/2001 0.016723972 0.124129649

3/7/2001 0.017220265 0.122331779

3/14/2001 0.016937798 0.122840492

3/21/2001 0.016999441 0.12377535

3/28/2001 0.017613085 0.128180246

4/4/2001 0.017134424 0.131663649

4/11/2001 0.014658141 0.128419708

4/18/2001 0.014207375 0.12927077

4/25/2001 0.013768187 0.129681452

5/2/2001 0.014171967 0.132074499

5/9/2001 0.01442491 0.132323335

5/16/2001 0.014894638 0.133381934

5/23/2001 0.015405957 0.133547331

5/30/2001 0.014876725 0.130545767

6/6/2001 0.015038801 0.133853493

6/13/2001 0.01451389 0.131848414

6/20/2001 0.014263652 0.130617212

6/27/2001 0.014045789 0.129307543

7/4/2001 0.013873935 0.13053154

7/11/2001 0.014248261 0.129398672

7/18/2001 0.015906408 0.127502893

7/25/2001 0.015867515 0.125139789

8/1/2001 0.015432264 0.123212652

8/8/2001 0.015609744 0.121059055

8/15/2001 0.014622693 0.120463306

8/22/2001 0.014614848 0.120953896

8/29/2001 0.014570175 0.120654402

9/5/2001 0.014769024 0.121282478

9/12/2001 0.01521805 0.122738172

9/19/2001 0.015059432 0.121627831

9/26/2001 0.015109322 0.123837668

10/3/2001 0.015128582 0.123066386

10/10/2001 0.013259172 0.124314598

10/17/2001 0.014639136 0.125086884

10/24/2001 0.015030874 0.127365974

10/31/2001 0.015514667 0.129895011

11/7/2001 0.016053011 0.13602607

11/14/2001 0.01724065 0.138369235

11/21/2001 0.017501847 0.142615096
11/28/2001 0.017858972 0.14570603

12/5/2001 0.017595482 0.14664682

12/12/2001 0.017937009 0.150024467

12/19/2001 0.017760596 0.153119478

12/26/2001 0.017154991 0.147206521

1/2/2002 0.016681764 0.142677069

1/9/2002 0.014426036 0.144420225

1/16/2002 0.01556292 0.147075942

1/23/2002 0.015454803 0.148053035

1/30/2002 0.014701694 0.149877612

2/6/2002 0.013110663 0.145688791

2/13/2002 0.013063722 0.143987819

2/20/2002 0.012607922 0.139989748

2/27/2002 0.012475924 0.140137558

3/6/2002 0.012747026 0.140201962

3/13/2002 0.012666112 0.140563099

3/20/2002 0.012894016 0.142779323

3/27/2002 0.013384587 0.150765658

4/3/2002 0.014224694 0.155463668

4/10/2002 0.013181015 0.15466137

4/17/2002 0.012736814 0.153120161

4/24/2002 0.013791365 0.153068296

5/1/2002 0.014379325 0.151772753

5/8/2002 0.014250268 0.152546496

5/15/2002 0.014293079 0.155019923

5/22/2002 0.014593238 0.156534581

5/29/2002 0.014262017 0.156672089

6/5/2002 0.014110824 0.155467578

6/12/2002 0.014100494 0.153854505

6/19/2002 0.014587777 0.152630997

6/26/2002 0.015101939 0.150677691

7/3/2002 0.015470793 0.14973426

7/10/2002 0.015416719 0.149636257

7/17/2002 0.0193067 0.152356911

7/24/2002 0.020210113 0.155113451

7/31/2002 0.020786525 0.158039867

8/7/2002 0.021380673 0.157090173

8/14/2002 0.02137607 0.158506236

8/21/2002 0.022104743 0.160066711

8/28/2002 0.022786171 0.159492821

9/4/2002 0.022603377 0.159069218

9/11/2002 0.022732423 0.160042429

9/18/2002 0.022360371 0.161269073

9/25/2002 0.022420352 0.164244322

10/2/2002 0.022928788 0.164445113

10/9/2002 0.01877979 0.166100116

10/16/2002 0.020133135 0.167177267

10/23/2002 0.021789601 0.168164284

10/30/2002 0.022293723 0.167722119

11/6/2002 0.023262954 0.168232659

11/13/2002 0.023764995 0.1696378

11/20/2002 0.023838142 0.170208474

11/27/2002 0.024468158 0.171772056

12/4/2002 0.024295906 0.169082873

12/11/2002 0.02405355 0.169706141

12/18/2002 0.024236221 0.167678028

12/25/2002 0.024197752 0.16223444

1/1/2003 0.024059202 0.153561156

1/8/2003 0.021482056 0.154384538

1/15/2003 0.022730683 0.153925501

1/22/2003 0.022749043 0.150603388

1/29/2003 0.022027178 0.148597581

2/5/2003 0.021336764 0.144431756
2/12/2003 0.021798364 0.141701417

2/19/2003 0.022139241 0.139996826

2/26/2003 0.021956536 0.13949374

3/5/2003 0.022808083 0.138837674

3/12/2003 0.022120092 0.139495981

3/19/2003 0.02204051 0.143818369

3/26/2003 0.02287659 0.147921991

4/2/2003 0.023859207 0.152818525

4/9/2003 0.021038087 0.152005168

4/16/2003 0.020659932 0.149832729

4/23/2003 0.020557581 0.14884198

4/30/2003 0.020630986 0.15014822

5/7/2003 0.021398867 0.15201462

5/14/2003 0.021625897 0.157032971

5/21/2003 0.023048614 0.162128312

5/28/2003 0.023444301 0.166457431

6/4/2003 0.025206293 0.167748874

6/11/2003 0.025757944 0.170074949

6/18/2003 0.025400173 0.170306708

6/25/2003 0.025028853 0.1722207

7/2/2003 0.025092453 0.174141887

7/9/2003 0.02491741 0.176951579

7/16/2003 0.030021315 0.179590581

7/23/2003 0.032747898 0.183575932

7/30/2003 0.032455664 0.18824124

8/6/2003 0.032278821 0.192132177

8/13/2003 0.031972486 0.190399446

8/20/2003 0.03112794 0.185750119

8/27/2003 0.029830557 0.182206793

9/3/2003 0.02926944 0.177483458

9/10/2003 0.028675018 0.178077947

9/17/2003 0.028692713 0.178585579

9/24/2003 0.028661821 0.179052102

10/1/2003 0.028809598 0.176672548

10/8/2003 0.0243013 0.17773485

10/15/2003 0.022023319 0.175859424

10/22/2003 0.022956306 0.175633695

10/29/2003 0.02316815 0.172256913

11/5/2003 0.02415191 0.163295738

11/12/2003 0.024150572 0.16189188

11/19/2003 0.025162861 0.167307475

11/26/2003 0.025498825 0.16615238

12/3/2003 0.025924019 0.166574641

12/10/2003 0.026428578 0.165365885

12/17/2003 0.026323556 0.163998991

12/24/2003 0.026214258 0.160458474

12/31/2003 0.025144417 0.151877899

1/7/2004 0.023833953 0.149270816

1/14/2004 0.024070396 0.15360687

1/21/2004 0.02624923 0.15408555

1/28/2004 0.025605167 0.155838463

2/4/2004 0.026657239 0.1564105

2/11/2004 0.027091286 0.158672837

2/18/2004 0.027921172 0.15601427

2/25/2004 0.027862898 0.158276357

3/3/2004 0.027891914 0.157054496

3/10/2004 0.029299126 0.159378685

3/17/2004 0.029962695 0.161035352

3/24/2004 0.031697132 0.161935127

3/31/2004 0.032884684 0.168571073

4/7/2004 0.031850134 0.171044667

4/14/2004 0.031060579 0.169628991

4/21/2004 0.030013558 0.17110556
4/28/2004 0.029233493 0.171125929

5/5/2004 0.028168768 0.171454334

5/12/2004 0.027609774 0.174166922

5/19/2004 0.027881884 0.177267133

5/26/2004 0.027428466 0.177304818

6/2/2004 0.02613002 0.179145418

6/9/2004 0.025499757 0.177941867

6/16/2004 0.02412411 0.179588486

6/23/2004 0.023752876 0.180182615

6/30/2004 0.022408836 0.181012592

7/7/2004 0.020309569 0.177923445

7/14/2004 0.020658089 0.175178705

7/21/2004 0.021814998 0.173003999

7/28/2004 0.021927165 0.171145842

8/4/2004 0.02425394 0.166477686

8/11/2004 0.025198698 0.165878686

8/18/2004 0.025675579 0.164670433

8/25/2004 0.026531266 0.163354114

9/1/2004 0.026386033 0.157400221

9/8/2004 0.026951956 0.158785687

9/15/2004 0.027164898 0.157495465

9/22/2004 0.027747538 0.161159307

9/29/2004 0.029640042 0.16389526

10/6/2004 0.031036326 0.163005479

10/13/2004 0.031263754 0.16568439

10/20/2004 0.033920854 0.166332347

10/27/2004 0.031843269 0.16721296

11/3/2004 0.036247718 0.167340735

11/10/2004 0.038362661 0.167298095

11/17/2004 0.038140746 0.167851305

11/24/2004 0.038436962 0.171025039

12/1/2004 0.039221168 0.174894698

12/8/2004 0.039771404 0.176404806

12/15/2004 0.04007309 0.176986935

12/22/2004 0.038836171 0.173241939

12/29/2004 0.037628312 0.165391564

1/5/2005 0.035093129 0.162140665

1/12/2005 0.03226368 0.164047217

1/19/2005 0.032660291 0.162818847

1/26/2005 0.03032104 0.165523527

2/2/2005 0.02999431 0.165156371

2/9/2005 0.0322843 0.1645955

2/16/2005 0.033585094 0.166125245

2/23/2005 0.033813732 0.167739882

3/2/2005 0.034517016 0.16646045

3/9/2005 0.035820547 0.166810268

3/16/2005 0.036405451 0.169849042

3/23/2005 0.036741203 0.172781386

3/30/2005 0.038951404 0.177205738

4/6/2005 0.038980531 0.178908526

4/13/2005 0.038750924 0.177777352

4/20/2005 0.036752013 0.183793606

4/27/2005 0.036682663 0.182702356

5/4/2005 0.035712289 0.183666784

5/11/2005 0.035383607 0.184908117

5/18/2005 0.034539169 0.184764974

5/25/2005 0.034342094 0.185264378

6/1/2005 0.03377746 0.187656847

6/8/2005 0.033933785 0.1882832

6/15/2005 0.03439025 0.186381901

6/22/2005 0.034247875 0.18567643

6/29/2005 0.035305629 0.186199481

7/6/2005 0.035204973 0.185848504
7/13/2005 0.034774092 0.185690286

7/20/2005 0.033013208 0.181508787

7/27/2005 0.033183031 0.180368282

8/3/2005 0.033922605 0.180031613

8/10/2005 0.035464424 0.176720863

8/17/2005 0.034788168 0.175409434

8/24/2005 0.033870028 0.171103797

8/31/2005 0.032728705 0.1684886

9/7/2005 0.032594573 0.170926816

9/14/2005 0.033522361 0.170172635

9/21/2005 0.034572277 0.172666982

9/28/2005 0.035634605 0.174420439

10/5/2005 0.036131161 0.17490362

Data: FRBNY, Treasury
Treasury Auction Release Times

November 2004 - October 2005

(In Minutes and Seconds)

Auction Date Security Type Release Time Auction Date Security Type Release Time

11/01/04 13-WEEK 01:41 05/02/05 13-WEEK 01:35

11/01/04 26-WEEK 01:37 05/02/05 26-WEEK 01:42

11/02/04 4-WEEK 01:35 05/03/05 4-WEEK 01:35

11/08/04 13-WEEK 01:36 05/09/05 13-WEEK 01:35

11/08/04 26-WEEK 01:42 05/09/05 26-WEEK 01:40

11/08/04 3-YEAR 03:33 05/10/05 4-WEEK 01:33

11/09/04 4-WEEK 01:31 05/10/05 3-YEAR 01:34

11/09/04 5-YEAR 01:39 05/11/05 5-YEAR 01:38

11/10/04 10-YEAR 02:53 05/12/05 10-YEAR 01:35

11/15/04 13-WEEK 01:31 05/16/05 13-WEEK 02:11

11/15/04 26-WEEK 01:51 05/16/05 26-WEEK 03:08

11/17/04 5-DAY 01:34 05/17/05 4-WEEK 01:37

11/19/04 4-WEEK 01:34 05/23/05 13-WEEK 01:30

11/22/04 13-WEEK 01:36 05/23/05 26-WEEK 01:40

11/22/04 26-WEEK 01:40 05/24/05 4-WEEK 01:33

11/23/04 4-WEEK 01:35 05/25/05 2-YEAR 01:33

11/23/04 2-YEAR 01:35 05/31/05 14-DAY 01:35

11/29/04 13-WEEK 28:19 05/31/05 13-WEEK 01:35

11/29/04 26-WEEK 28:24 05/31/05 26-WEEK 01:40

11/30/04 14-DAY 01:35 06/01/05 4-WEEK 01:35

11/30/04 4-WEEK 01:36 06/02/05 12-DAY 01:37

12/01/04 12-DAY 01:36 06/06/05 8-DAY 01:32

12/03/04 8-DAY 01:36 06/06/05 13-WEEK 01:33

12/06/04 13-WEEK 01:33 06/06/05 26-WEEK 01:33

12/06/04 26-WEEK 01:44 06/07/05 4-WEEK 01:32

12/07/04 4-WEEK 01:32 06/08/05 5-YEAR 01:36

12/08/04 5-YEAR 01:35 06/09/05 9-YEAR 11-MONTH 01:33

12/09/04 10-YEAR 01:37 06/13/05 13-WEEK 01:39

12/13/04 13-WEEK 01:32 06/13/05 26-WEEK 01:40

12/13/04 26-WEEK 01:40 06/14/05 4-WEEK 01:30

12/14/04 4-WEEK 01:32 06/20/05 13-WEEK 01:30

12/20/04 13-WEEK 01:33 06/20/05 26-WEEK 01:40

12/20/04 26-WEEK 01:42 06/21/05 4-WEEK 01:55

12/21/04 4-WEEK 01:33 06/27/05 13-WEEK 01:38

12/27/04 13-WEEK 01:35 06/27/05 26-WEEK 02:19

12/27/04 26-WEEK 01:44 06/28/05 4-WEEK 01:30

12/28/04 4-WEEK 01:36 06/29/05 14-DAY 01:32

12/29/04 2-YEAR 01:40 06/29/05 2-YEAR 01:35

12/30/04 15-DAY 01:35 07/05/05 13-WEEK 01:33

01/03/05 13-WEEK 01:43 07/05/05 26-WEEK 01:42

01/03/05 26-WEEK 01:36 07/06/05 4-WEEK 01:32

01/04/05 4-WEEK 01:36 07/11/05 13-WEEK 01:38

01/10/05 13-WEEK 01:40 07/11/05 26-WEEK 01:42

01/10/05 26-WEEK 01:53 07/12/05 4-WEEK 01:35

01/11/05 5-DAY 01:36 07/13/05 5-YEAR 01:37

01/11/05 4-WEEK 01:35 07/14/05 10-YEAR TIPS 01:34

01/12/05 5-YEAR 01:36 07/18/05 13-WEEK 04:56

01/13/05 10-YEAR TIPS 01:35 07/18/05 26-WEEK 04:04

01/18/05 13-WEEK 01:49 07/19/05 4-WEEK 01:35

01/18/05 26-WEEK 01:35 07/25/05 13-WEEK 01:33

01/19/05 4-WEEK 01:35 07/25/05 26-WEEK 01:39

01/24/05 13-WEEK 01:42 07/26/05 4-WEEK 01:35

01/24/05 26-WEEK 01:42 07/26/05 19-YEAR 6-MONTH TIPS 01:33

01/25/05 4-WEEK 01:33 07/27/05 2-YEAR 01:35

01/25/05 20-YEAR TIPS 01:37 08/01/05 13-WEEK 01:35

01/26/05 2-YEAR 01:34 08/01/05 26-WEEK 01:43

01/31/05 13-WEEK 01:42 08/02/05 4-WEEK 01:32

01/31/05 26-WEEK 01:35 08/08/05 13-WEEK 01:34

02/01/05 4-WEEK 01:23 08/08/05 26-WEEK 01:43

02/07/05 13-WEEK 03:00 08/08/05 3-YEAR 01:35

02/07/05 26-WEEK 01:38 08/09/05 4-WEEK 01:35

02/08/05 4-WEEK 01:39 08/10/05 5-YEAR 01:34

02/08/05 3-YEAR 01:34 08/11/05 10-YEAR 01:34

02/09/05 3-DAY 01:33 08/15/05 13-WEEK 01:46

02/09/05 5-YEAR 01:37 08/15/05 26-WEEK 01:38

02/10/05 10-YEAR 01:37 08/16/05 4-WEEK 01:31

02/14/05 13-WEEK 01:51 08/22/05 13-WEEK 01:42

02/14/05 26-WEEK 01:41 08/22/05 26-WEEK 01:48

02/15/05 4-WEEK 01:36 08/23/05 4-WEEK 01:39

02/22/05 13-WEEK 01:34 08/24/05 2-YEAR 01:41

02/22/05 26-WEEK 01:41 08/29/05 13-WEEK 01:39

02/23/05 4-WEEK 01:37 08/29/05 26-WEEK 01:42

02/24/05 2-YEAR 01:33 08/30/05 14-DAY 01:42

02/28/05 13-WEEK 01:33 08/30/05 4-WEEK 01:39

02/28/05 26-WEEK 01:41 08/31/05 13-DAY 01:41

03/01/05 4-WEEK 01:33 09/06/05 6-DAY 01:41

03/02/05 12-DAY 01:38 09/06/05 13-WEEK 01:37

03/07/05 7-DAY 01:34 09/06/05 26-WEEK 01:47

03/07/05 13-WEEK 01:31 09/07/05 4-WEEK 01:37

03/07/05 26-WEEK 01:42 09/07/05 5-YEAR 01:38

03/08/05 4-WEEK 01:50 09/08/05 9-YEAR 11-MONTH 01:35

03/09/05 5-YEAR 01:34 09/12/05 13-WEEK 01:39

03/10/05 9-YEAR 11-MONTH 01:37 09/12/05 26-WEEK 01:42

03/14/05 13-WEEK 01:38 09/13/05 4-WEEK 01:41

03/14/05 26-WEEK 01:34 09/19/05 13-WEEK 01:41

03/15/05 4-WEEK 01:06 09/19/05 26-WEEK 01:44

03/21/05 13-WEEK 01:44 09/20/05 4-WEEK 01:39

03/21/05 26-WEEK 01:32 09/26/05 13-WEEK 01:54

03/22/05 4-WEEK 01:36 09/26/05 26-WEEK 01:38

03/28/05 13-WEEK 01:42 09/27/05 4-WEEK 01:39

03/28/05 26-WEEK 01:35 09/28/05 2-YEAR 01:39

03/29/05 4-WEEK 01:34 10/03/05 13-WEEK 01:44

03/30/05 14-DAY 01:36 10/03/05 26-WEEK 01:51

03/30/05 2-YEAR 01:28 10/04/05 4-WEEK 01:39

04/04/05 13-WEEK 01:35 10/05/05 11-DAY 01:40

04/04/05 26-WEEK 01:42 10/11/05 13-WEEK 01:52

04/05/05 4-WEEK 01:35 10/11/05 26-WEEK 01:42

04/06/05 8-DAY 01:38 10/12/05 4-WEEK 01:37

04/11/05 13-WEEK 01:34 10/12/05 5-YEAR 01:38

04/11/05 26-WEEK 01:42 10/13/05 9-YEAR 9-MONTH 01:38

04/12/05 4-WEEK 01:36 10/17/05 13-WEEK 01:40

04/13/05 4-DAY 01:33 10/17/05 26-WEEK 01:43

04/14/05 5-YEAR 01:37 10/18/05 4-WEEK 01:39

04/14/05 9-YEAR 9-MONTH TIPS 01:35 10/24/05 13-WEEK 01:40

04/18/05 13-WEEK 01:42 10/24/05 26-WEEK 01:47

04/18/05 26-WEEK 01:46 10/25/05 4-WEEK 01:41

04/19/05 4-WEEK 01:38 10/25/05 4-YEAR 6-MONTH TIPS 01:40

04/25/05 13-WEEK 01:36 10/26/05 2-YEAR 01:41

04/25/05 26-WEEK 01:48

04/26/05 4-WEEK 01:34

04/26/05 5-YEAR TIPS 01:40

04/27/05 2-YEAR 01:34