In the US 2 and 5 year Treasury Notes are sold every month while 3,7 and 10 year treasury notes and 30 year treasury bonds are sold every quarter.
They are sold by auction on regular dates to some 40 primary dealers.
Depending on the maturity, US government bonds are classified into three categories:
Treasury Bills - Maturing in one year or less (all US treasury bills are zero-coupon bonds and therefore trade at a discount)
Treasury Notes - Maturing in two to ten years
Treasury Bonds - Maturing in more than ten years.
US Government trade bills are called treasury bills
For example if a company wants to borrow some money for 3 months, they might be advised to expect to pay "treasuries plus 1%"
(ie 1% more than the current rate for US government treasury bills)
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