Under treasuries, there exist different types of securities like treasury bills, treasury notes, treasury bonds, inflation protection securities etc. These are distinguished based on the amount of time from the initial sale of the bond to maturity. All these treasury securities (excluding savings bonds) are very liquid and are heavily traded on the secondary market.
Different types of treasury securities are explained below:
1. Treasury Bills or T-bills
2. Treasury Notes or T-Notes
3. Treasury Bonds or T-Bonds or the Long Bond
4. Treasury Inflation-Protected Securities or TIPS