Treasury bond

Treasury bonds and Treasury notes are two types of marketable United States Treasury securities. The Treasury issues both nominal bonds, the subject of this article, and inflation-protected bonds. Treasury bonds possess the advantages inherent in treasury securities: the bonds are backed by the full faith and credit of the US government; treasury bond interest income is exempt from state and local income tax; and treasury bonds currently being issued are not  callable; although some older issues available on the secondary market are callable.

Nominal Treasury bonds are issued in two maturity ranges:
 * Notes have a range between one year and ten years;
 * Bonds have a range greater than ten years.

In this article both notes and bonds are referred to as "bonds".

Purchasing bonds
Treasury bonds can be purchased through brokerages and banks, as well as through an individual or entity account at TreasuryDirect. However, TreasuryDirect cannot be used to purchase bonds intended for IRAs.

Role in a portfolio
See United States Treasury security.

Historical returns
The following table provides return data for the 10-year Treasury bond for the years spanning 1928 through 2012. Inflation data, as measured by the CPI-U is also provided.