An auction system where the price of an item is gradually lowered until it meets a responsive bid and is sold. U.S. Treasury bills are sold under this system, which contrasts with the two-sided or double-auction system used by major stock exchanges.
Financial futures are futures contracts based on a financial instrument. These contracts generally move inversely with interest rates.
Flight to quality is an investment strategy where investors shift their capital to the safest possible assets, such as U.S. Treasury bills, to protect against loss during periods of market instability.
The International Monetary Market (IMM) is a division of the Chicago Mercantile Exchange that specializes in trading futures contracts on various financial instruments including U.S. Treasury bills, foreign currency, certificates of deposit, and Eurodollar deposits.
