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The Treasury Two-Step: Redeeming HH Bonds.The article presents an answer to a question of whether an investor can possibly submit his unmatured Series HH savings bonds for redemption directly to the savings-bond office of the U.S. Treasury.Wall Street Journal - Eastern Edition...
A simple calculation suggests that the total savings to the Treasury from the close to $940 billion of FRNs issued to date could approach a billion dollars. In theory, the potential savings from refunding all fixed rate Treasury debt with floating rate debt could be orders of magnitude larger....