A short-dated UK or US government security, yielding no interest but issued at a discount on its redemption price.
- Today, there is a widely-held perception that the U.S. government is the safest credit risk on the planet - heck, mathematical economists even deem the yield on a U.S. Treasury bill to be the ‘risk-free rate of return.’
- An investor must be induced by a potential investment return in order to give up a risk-free alternative like a Treasury bill.
- They would, in fact, return something close to the Treasury bill or bond rate, according to these claims.
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