: Includes T-bills (short-term), T-notes (intermediate), and T-bonds (long-term), which are exempt from state and local taxes.
: Issued by companies to fund operations; these typically offer higher yields but carry more default risk than government bonds. buying bonds on etrade
: Issued by state and local governments; interest is often free from federal income tax and sometimes state/local taxes. : Includes T-bills (short-term)