Nob Spread

Acronym for notes over bonds spread. Traders buying or selling a NOB spread are trying to profit from changes in the relationship between yields in Treasury notes, which are intermediate-term instruments maturing in 2 to 10 years, and Treasury bonds, which are long-term instruments maturing in 15 or more years. Most people trade the NOB Spread by buying or selling futures contracts on Treasury notes and Treasury bonds. See also Mob Spread.