c instructions plural: an outline or manual of technical procedure : directions d: a code that tells a computer to perform a particular operation 2: the action, practice, or profession of teaching
The yield curve describes the yields for Treasury bills, notes and bonds. It's called a curve because, if it were plotted on a graph, the yields would normally slope up. That's because Treasury bills, which are of short duration, don't usually pay as high a yield as the notes and even longer-term bonds. Why?
1 Treasury Bills: Treasury bills are direct, short-term debt obligations of the U.S. government. 2  They are issued every week using a competitive bidding process in maturities of one month, three months and six months. 3  Once per quarter, the U.S. government issues Treasury bills with one-year maturities.