| Yields were largely unchanged, with shorter maturities outperforming the long-bond. |
| The maturities of EMTNs are not fixed, and can range from short-to long-term. |
| Issuers who are unwilling to pay the price to sell these long securities can instead sell shorter maturities. |
| The segmented market hypothesis explains the yield curve's shape in terms of relative supply and demand for securities at different maturities. |
| In addition, the Treasury endeavoured to concentrate its issues on relatively unburdened maturities. |
| These very short maturities were the result of exceptionally great need for liquid assets in euros on the part of some counterparties. |
