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The definition of Treasuries
is: Negotiable debt obligations of the U.S. government, backed by its full faith and credit and issued in various maturities. Income from Treasuries is generally exempt from state and local, but not federal, taxes. Treasury bills are short-term debt instruments (maturing in less than one year) issued at a discount from face value. Treasury bonds are long-term debt instruments with maturities of 10 years or more and issued in minimum denominations of $1ꯠ. Treasury notes are intermediate-term debt securities with maturities of one to 10 years issued in denominations ranging from $1ꯠ to over $1 million.
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