debt
obligations of the U.S. government that are issued at various intervals and with various maturities; revenue from these
bonds is used to raise capital and / or refund outstanding debt; since Treasury securities are backed by the full faith and credit of the U.S. government, they are generally considered to be free from credit risk and thus typically
carry lower yields than other securities; the interest paid by Treasuries is exempt from state and local tax, but is subject to federal taxes and may be subject to the federal Alternative Minimum Tax (AMT); U.S. Treasury securities include Treasury bills, Treasury notes, Treasury
bonds, zero - coupon
bonds, Treasury Inflation Protected Securities (TIPS), and Treasury Auctions