Basics

With $28.9 trillion in publicly held debt and an average of $910 billion in Treasury securities changing hands daily, the U.S. bond market is a cornerstone of domestic and global financial systems. While that number may seem abstract, it has real consequences for the economy, both now and in the future. National debt refers to the total amount of money a government owes to creditors, both domestic and foreign. The dependability of U.S. Treasuries—alongside the U.S. dollar’s central role in international trade—has cemented their status as one of the safest and most liquid investment options available worldwide.