Although both notes and bonds are issued by agents such as the U.S. government, their characteristics (e.g., coupon rate) other than maturity are generally the same. In this chapter, the term bond will mean bonds and notes in general, except where we distinguish notes by their special maturity features. For example, U.S. Treasury notes have maturities of over one year and up to 10 years. U.S. Treasury bonds have maturities from over 10 years at the time of issue. LO.1