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1. Discuss the main difference between a bid price and an asked price. FIGURE 2.1 Treasury bill listings Source: Wall Street Journal Online, April 18,

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1. Discuss the main difference between a bid price and an asked price. FIGURE 2.1 Treasury bill listings Source: Wall Street Journal Online, April 18, 2017 MATURITY June 8, 2017 August 17, 2017 October 12, 2017 December 7, 2017 March 29, 2018 DAYS TO MATURITY 51 121 177 233 345 BID 0.730 0.793 0.905 0.928 0.988 ASKED 0.720 0.783 0.895 0.918 0.978 CHG unch. -0.010 -0.028 -0.023 -0.020 ASKED YIELD 0.731 0.795 0.911 0.936 1.000 2. From Figure 2.1 above, calculate the bid-asked spread for T-bill with March 29, 2018 maturity date

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