Benchmark Bond
A bond that provides a standard against which the performance of other bonds can be measured. Government bonds are almost always used as benchmark bonds. Also referred to as "benchmark issue" or "bellwether issue".
The high interest rates on benchmark bonds in Portugal and Ireland are almost unaffected; they still hover at an all-time high.
The benchmark bond usually has the greatest liquidity and the highest turnover, and is the most frequently quoted. In certain markets (e.g., Japan), there is a seasoning period during which the bond is not the benchmark.
Until recently, the 30-year Treasury bond was considered the benchmark bond in determining trends in interest rates.
Fannie Mae ‘Benchmark Notes™', ‘Benchmark Bonds™' and ‘Benchmark Bills™';
Federal Home Loan Bank ‘TAP Issues™'; and ...
 See also: Market, Debt, Benchmark, Bonds, Offer
  
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