(Compare interest rates on bonds of different maturities.) Treasury securities have different maturities: i) those with a maturity of 1 year or less from their date of issue are called Treasury bills; ii) those with a maturity of 2-10 years from their date of issue are called Treasury notes; iii) those with a maturity of more than 10 year(typically 30 years) from their date of issue are called Treasury bonds. Treasury bills are discount bonds, while Treasury notes and bonds are coupon bonds.

FRED * - 10-Year Treasury Constant Maturity Rate 3.4 3.2 3.0 2.8 2.6 Percent 2.4 2.2 2.0 1.8 1.6 1.4 1.2 2015-07 2016-01 2016-07 2017-01 2017-07 2018-01 2018-07 2019-01 2019-07 2020-01 Source: Board of Governors of the Federal Reserve System (US) fred.stlouisfed.orgFRED ~ - 3-Month Treasury Bill: Secondary Market Rate 2.5 2.0 1.5 Percent 1.0 0.5 0.0 -0.5 2016-01 2016-07 2017-01 2017-07 2018-01 2018-07 2019-01 2019-07 2020-01 Source: Board of Governors of the Federal Reserve System (US) fred.stlouisfed.orgFRED ~ - 30-Year Treasury Constant Maturity Rate 3.6 3.4 W 3.2 3.0 Percent 2.8 2.6 2.4 2.2 2.0 1.8 2015-07 2016-01 2016-07 2017-01 2017-07 2018-01 2018-07 2019-01 2019-07 2020-01 Source: Board of Governors of the Federal Reserve System (US) fred.stlouisfed.org