Government debt backed by the credit worthiness and taxing power of a country or municipality. |
Government securities may be issued by national or local governments. And since they reflect the extensive taxing power of the government, they usually offer very little risk of default (with some expectations on the local and national level).
In the US, government bonds include the short-term (less than one-year) Treasury Bill, the medium term (two to ten-year) Treasury Note and long-term Treasury Bond.
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