Treasury Bond
A long-term US government debt security with maturities of 20 or 30 years.
What is Treasury Bond?
A Treasury bond (T-bond) is a long-term US government debt security with maturities of 20 or 30 years, issued and backed by the US Department of the Treasury. T-bonds pay semi-annual coupon interest and return the face value at maturity. Because they are backed by the full faith and credit of the US government, Treasury bonds are considered the benchmark risk-free asset and carry effectively zero credit risk. They are used as pricing benchmarks for virtually all other dollar-denominated fixed-income securities and form the long end of the yield curve.
Example
The 30-year Treasury bond yield is closely watched as a barometer of long-term inflation expectations and economic growth. When it exceeds the 2-year yield, the curve is positively sloped; an inversion historically precedes recession.
Source: US Treasury — TreasuryDirect