NOB Spread

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A NOB spread is a yield curve spread between 10-Year T-Notes and 30-Year T-Bond, typically traded using futures. The NOB can also be traded in the cash Treasury or repurchase market.[1]

NOB refers to Notes over Bonds. The NOB is a way to trade the yield curve between different maturities of Treausry debt.

CME Group

On November 17, 2008, the CME group will introduce intermarket spreads on NOBS and other interest rate spread strategies, including FOBs, TUBs, FYTs, TUFs, TUTs, BOIs, TOS's, FOS's and NOS's


  1. note over bond (NOB) spread Finance Definition.