From a trader's perspective, a bond is generally an instrument with an initial maturity of more than 10 years. This is in comparisson to notes which are 2 to 10 years in maturity at issuance.
 Types of Bonds
 Treasury Bonds
Bonds issued by the U.S. Treasury, so called Treasury Bonds, have been among the most actively traded financial instruments globally. While issuance of the bonds, which are 30-year instruments, was discontinued, bond futures continue to trade actively.
 Other Sovereign Bonds
 Corporate Bonds
These are bonds issued by companies to finance their capital needs.
 Municipal Bonds
These are bonds issued by state and local governments to finance major projects.
 Trading Bonds
Bonds trade as part of the fixed income market. As such, they are transacted in several ways. Corporate bonds often transact on stock exchanges. In the US, most individual bonds are traded over-the-counter, though a handful are listed on the New York Stock Exchange. Government bonds can also be traded via the futures market.
 External links