What is a unique characteristic of federal agency issues compared to Treasury obligations?

Federal agency issues have a unique characteristic in that they typically range in maturity from one month to over ten years. This characteristic differentiates them from Treasury obligations, which generally have more standardized maturity options that can be somewhat limited compared to the variety federal agency issues offer.

Federal agency securities are issued by government-sponsored enterprises (GSEs) and other federal agencies, thus they provide a wider range of maturities. This flexibility in maturity options allows investors to select securities that best fit their investment horizons and cash flow needs.

In contrast, while Treasury obligations are highly regarded for their security and lower risk profile, they do not typically match the same range of maturity choices that can be found in the offerings of federal agency securities. The wide variance in maturities for federal agency issues can accommodate various investment strategies and risk appetites, which is particularly valuable for portfolio management.