A debt security issued by the U.S. government similar to a Treasury note, but with a much longer maturity period. Treasury bonds typically mature in 20 or 30 years. Like Treasury notes, they are considered very safe investments backed by the U.S. government.
You buy a 30-year Treasury bond for $10,000 that pays 4.5% interest per year. You receive $450 in annual interest payments for 30 years, then get your $10,000 back. This long time period means you lock in that interest rate for decades.
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