Which of the following best describes Treasury bonds?

Treasury bonds are characterized as long-term government debt securities that typically have maturities ranging from 20 to 30 years. They are issued by the U.S. Department of the Treasury to finance government spending and obligations. Investors purchase Treasury bonds to receive periodic interest payments and to get their principal back at maturity. The long-term nature of these bonds generally means they carry interest rate risk, which is the risk that rising interest rates will lead to a decrease in the bond's market price.

Other options do not accurately define Treasury bonds. For instance, short-term government securities with maturities of less than one year refer to Treasury bills, while inflation-indexed securities would describe Treasury Inflation-Protected Securities (TIPS), which adjust in relation to inflation. Lastly, corporate bonds are entirely different as they are issued by private companies and carry different risk profiles compared to government-backed securities. Thus, the defining features of Treasury bonds firmly establish the correctness of the selection.