Refer to the T-note and T-bond quotes in Table 61. a. What is the asking price on the 3.000 percent November 2045 T-bond if the face value of the bond is $10,000? b. What is the bid price on the 1.000 percent October 2016 T-note if the face value of the bond is $10,000?

TABLE 6-1 Treasury Note and Bond Quote Treasury Notes and Bonds Monday, May 23, 2016 Treasury note and bond data are representative over-the-counter quotations as of 3 p.m. Eastern time. For notes and bonds callable prior to maturity, yields are computed to the earliest call date for issues quoted above par and to the maturity date for issues below par. Coupon Bid Asked Asked Yield 0.375 100.0000 100.0156 -0.441 Chg 0.0078 0.0078 unch. 0.500 100.0234 0.110 100.0078 100.0078 0.500 100.0234 0.269 0.625 100.0391 100.0547 0.0156 0.242 0.500 100.0234 100.0391 unch. 0.291 0.625 100.0547 100.0703 0.0078 0.316 0.500 100.0391 100.0547 0.296 0.0234 -0.0156 0.875 0.420 100.1250 100.0469 100.1406 100.0625 0.500 0.0234 0.322 1.000 100.2109 100.2266 -0.0391 0.478 100.0547 100.0703 0.0078 0.477 Maturity 5/31/2016 6/15/2016 6/30/2016 7/15/2016 7/31/2016 8/15/2016 8/31/2016 9/15/2016 9/30/2016 10/15/2016 11/15/2016 2/15/2017 2/28/2017 3/15/2017 3/31/2017 4/30/2017 4/30/2017 5/15/2017 5/31/2017 6/15/2017 6/30/2017 7/31/2017 9/30/2017 10/15/2017 0.625 0.625 0.875 100.0313 unch. 100.1797 -0.0313 0.582 0.640 0.624 0.750 100.1016 1.000 0.650 100.0156 100.1641 100.0859 100.2813 99.8203 100.1641 100.1563 99.8828 100.2969 99.8359 -0.0078 -0.0078 0.0156 -0.0078 0.500 0.676 100.1797 0.682 0.875 0.875 0.625 100.1719 -0.0078 0.698 0.0078 0.725 99.8984 100.1406 0.875 100.1250 -0.0234 0.742 0.750 100.0000 -0.0078 0.750 0.625 99.9844 99.7891 101.3906 100.0469 99.8047 101.4063 100.0625 -0.0391 -0.0156 0.791 0.827 1.875 0.875 -0.0156 0.830 101.4609 101.4766 unch. 0.837 0.848 100.0234 100.0391 -0.0078 104.9922 -0.0234 0.839 104.9766 99.6406 99.6563 0.853 -0.0156 -0.0156 100.0234 100.0391 100.2109 100.2266 -0.0078 0.849 0.857 0.989 104.7109 104.7266 -0.0234 100.9297 100.9453 -0.0156 1.028 101.2969 -0.0313 1.024 -0.0078 1.031 99.9141 101.3438 101.6406 -0.0156 101.2813 99.8984 101.3281 101.6250 108.6953 100.4766 100.9141 1.021 -0.0234 1.040 108.7109 -0.0234 1.247 100.4922 -0.0234 1.249 100.9297 -0.0313 1.262 101.3594 101.3750 1.280 10/31/2017 1.875 11/15/2017 0.875 11/15/2017 4.250 11/30/2017 0.625 11/30/2017 0.875 12/31/2017 1.000 2/15/2019 2.750 2/28/2019 1.375 2/28/2019 1.500 3/15/2019 1.000 3/31/2019 1.500 3/31/2019 1.625 5/15/2020 3.500 5/31/2020 1.375 5/31/2020 1.500 6/30/2020 1.625 6/30/2020 1.875 7/31/2020 2.000 8/15/2020 2.625 5/15/2023 1.750 8/15/2023 2.500 11/15/2023 2.750 2/15/2024 2.750 5/15/2024 2.500 8/15/2024 2.375 11/15/2024 2.250 5/15/2045 3.000 11/15/2045 3.000 2/15/2046 2.500 5/15/2046 2.500 U.S. Treasury STRIPS Monday, May 23, 2016 -0.0078 -0.0078 102.4141 102.4297 1.265 102.8750 102.8906 -0.0234 1.288 105.4375 105.4531 -0.0156 1.295 100.6875 100.7031 0.0703 105.7500 105.7656 0.0547 1.643 1.650 1.673 1.697 107.5234 107.5391 0.0703 107.5938 0.0703 107.5781 105.7656 104.7656 0.1094 1.721 0.1016 1.748 103.7422 105.7813 104.7813 103.7578 107.7188 107.6875 0.1172 1.771 0.1094 2.618 107.6875 107.6563 0.0938 0.0938 97.2109 97.2422 2.624 2.634 2.631 97.2656 97.2969 0.1250 86.153 U.S. zero-coupon STRIPS allow investors to hold the interest and principal components of eligible Treasury notes and bonds as separate securities. STRIPS offer no interest payment; investors receive payment only at maturity. Quotes are as of 3 p.m. Eastern time based on transactions of $1 million or more. Yields calculated on the ask quote. Maturity Bid Asked Chg Asked Yield Treasury Bond, Stripped Principal 2016 Aug 15 99.896 99.899 -0.002 0.44 2016 Nov 15 99.748 99.752 -0.004 0.52 2017 May 15 99.234 99.244 -0.010 0.78 2018 Nov 15 97.764 97.788 -0.018 0.90 2019 Feb 15 97.420 97.447 -0.019 0.95 2019 Aug 15 96.522 96.553 -0.023 1.09 2022 Nov 15 90.261 90.319 0.021 1.58 2023 Feb 15 89.752 89.812 0.052 1.60 2023 Aug 15 88.683 88.746 0.039 1.66 2024 Nov 15 86.080 0.066 1.77 2029 Aug 15 75.932 76.031 0.125 2.08 2030 May 15 74.786 74.889 0.130 2.08 2031 Feb 15 73.491 73-598 0.134 2.09 2044 Feb 15 47.378 47.508 0.063 2044 May 15 46.675 46.804 0.063 2.73 2044 Nov 15 45.689 45.818 0.030 2.76 2045 Feb 15 45.309 45.437 0.063 2.77 2045 May 15 44.969 45.097 0.063 2.77 2045 Nov 15 44.256 44.385 0.063 2.78 2046 Feb 15 44.077 44.207 0.063 2.77 2046 May 15 43.907 44.037 0.063 2.76 Treasury Note, Stripped Principal 2016 Aug 31 99.874 99.876 -0.002 0.46 2016 Nov 30 99.704 99.709 -0.005 0.56 2017 Aug 15 98.980 98.992 -0.012 0.83 2017 Nov 30 98.779 98.794 -0.017 0.80 2.70 97.940 -0.019 0.92 2018 Aug 31 2018 Nov 30 97.918 97.769 91.080 97.794 -0.025 2022 May 15 91.134 0.020 0.89 1.56 1.87 2025 Nov 15 83.742 0.072 83.820 83.289 82.949 0.069 1.84 2026 May 15 Stripped Coupon Interest 2016 Jun 15 2016 Nov 15 2019 May 31 99.980 99.981 unch. 0.32 99.730 99.735 -0.004 0.56 96.640 -0.020 1.13 2019 Nov 30 95.927 -0.005 1.18 0.042 1.82 2024 May 15 2024 Nov 15 1.87 0.067 0.087 2025 Feb 15 1.90 96.611 95.893 86.487 85.307 84.721 84.080 83.575 62.664 61.612 61.316 60.737 86.556 85.378 84.794 84.155 83.651 62.782 0.088 2025 May 15 2025 Aug 15 2035 May 15 1.93 0.089 1.94 0.146 2.47 2035 Nov 15 0.118 2.49 61.731 61.435 60.857 0.119 2.48 0.120 2.50 60.181 60.301 0.120 2.52 2036 Feb 15 2036 May 15 2036 Aug 15 2036 Nov 15 2044 Nov 15 2045 May 15 2045 Aug 15 59.753 0.120 2.53 59.633 45.338 44.808 45.465 0.031 2.79 44.937 0.062 2.78 2.78 44-528 44.657 44.256 2045 Nov 15 44.128 0.063 0.063 0.063 2.79 2046 May 15 43.907 44.037 2.76