Yes, Treasury bill earnings are subject to federal income tax, but they’re exempt from state and local income taxes. Instead of paying traditional interest, T-bills generate income through a built-in ...

If you've been looking for a place to store your savings and earn interest in the short term, you've probably considered a high-yield savings account or a 1-year CD. These are both good options. But ...

As explained in Prof. Robert Jarrow’s book cited below, forward rates contain a risk premium above and beyond the market’s expectations for the 3-month forward rate. We document the size of that risk ...