All treasury securities are liquid and traded on the secondary market. They are differentiated by their maturity dates, which range from 1 month to thirty years. One major benefit of Treasuries is that the interest made is exempt from state and local taxes. Treasuries are backed by the complete faith and credit of the U.S.Treasury bills (T-bills) are short-term securities that grow in less than one year. They are offered at a discount rate from their face value and hence do not pay interest prior to maturity. Treasury notes (T-notes) earn a fixed rate of interest every six months and have maturities ranging from 1 to ten years.government bond market and is likewise used as a standard by the home loan market. Treasury bonds (T-bonds) have maturities varying from 10 to thirty years. Like T-notes, they likewise have a voucher payment every six months. Treasury Inflation-Protected Securities (SUGGESTIONS) are inflation-indexed bonds. The primary worth of POINTERS is changed by modifications in the Customer Cost Index - what is a gt bond (finance).