BILL, NOTE, BOND

When discussing the financial markets, it pays to know what you are talking about. Especially if the person you are speaking to knows what they are talking about. With that said, please do not refer to the 10-year Treasury bond or the 5-year Treasury Bill. The five and ten year Treasury securities are notes just like any other instrument with a maturity of greater than one year and up to ten years. Here is the correct terminology...

Maturities of one-year or less are called Bills Maturities of greater than one year and up to ten years are called Notes. Maturities of over ten years are called Bonds.