NOB spread

NOB spread

Notes over bonds spread. This is the difference in yield between Treasury notes (maturing in 2 to 10 years) and Treasury bonds (maturing in 15 or more years), which is traded using Treasury note and bond futures.

NOB spread

The difference in price between ten-year Treasury note futures and Treasury bond futures. Profits realized from using a NOB spread depend on changes in the difference between intermediate-term and long-term interest rates. Also called notes over bonds.