Treasury yields 1 month annualized?
The 1 month treasuries are currently quoted with a yield of 2.2%. Could someone explain this number to me again.
1) Does this mean that if I buy a 1 month yield in January and hold that to maturity, that is until Feb 1st, do I make 2.2%?
2) Or does this mean, in order to make 2.2% I need to buy another 1 month Treasury in Feb, and another in March and so on and on until Dec 31st, in order to make 2.2% by the end of the year?
So is the quoted yield annualized is what I am asking I guess.
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