Federal obligations usually issued for maturities in excess of five years are called:

Question

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Treasury bonds are issued for maturities in excess of five years. Treasury notes are issued for maturities between one to ten years, while Treasury bills are issued for maturities less than one year. Agency issues refer to debt securities issued by government-sponsored entities, such as Fannie Mae or Freddie Mac, and are not directly issued by the federal government.

Federal Obligations Usually Issued for Maturities in Excess of Five