treasury bond (T-bond)

Long-term (maturity over 10 years) fixed interest rate debt security issued by a national (federal) government backed by its 'full faith and credit.' Next to treasury bills (maturity less than one year), and treasury notes (maturity one to ten years) T-bonds are the safest form of marketable investment. They have an active secondary market, and usually pay semi-annual interest. See also treasuries.