What is the key difference in backing between GNMA MBS and FNMA/FHLMC MBS?
QUESTION
What is a collateralized mortgage obligation (CMO)?
QUESTION
What is the primary difference between a Treasury note and a Treasury bond?
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ANSWER
Original maturity: note 2–10 years; bond >10 years. Treasury notes and bonds differ mainly in issuance maturity, with notes shorter to distinguish intermediate from long-term debt.