The index of US government bonds with a 3-month maturity (3-month notes or in general 3-month treasuries). It measures the generic government 3-month yield for US issues of treasuries and provides the benchmark for various relatively short-term fixed-income instruments. It is typically used to find out yield spreads for a host of fixed-income instruments with 3-month maturities.

Generally speaking, the U.S. Treasury bill 0-3 month index (USGG3M) is designed to reflect/ gauge the performance of U.S. Treasury bills with maturities ranging from 0 to 3 months.