30-Year Treasury

A government bond issued by the US Treasury which is quoted on the secondary market and matures in 30 years. They have a relatively higher interest rate and lower risk due to their government-backed nature. These bonds are usually represented in terms of percentage of n/32 of a point (n= 1,2,3,...). For example, if a $1000 bond is represented as 96:07, it is being traded at a discounted price of $962.19 (96 + 7/32%). Also called treasuries, T-bonds, long-bonds.