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These bonds are one the safest in the world and that would explain why Treasury bonds have lower yields when they mature. But that is price one has to pay for quality. Another risk with the bond is that you will never be able to predict the selling price for bonds if you want to sell them before they mature.
But with safety come other perks. For instance, when you get interest from Treasury Bonds, you do not have to pay state and local taxes. However, Treasury bonds are not exempt from Federal taxes so be careful when you are filing your taxes.
Treasury bonds cannot be redeemed before they mature and the bonds issued after 1985 do not have call provisions. However, if you buy these bonds in the secondary market, you have to be careful as interest payments stop as soon as the bonds are called.
Usually people buy Treasury bonds from brokers. Though, you can also purchase them the federal government. The government holds regular auctions for people like you and me where we can purchase these bonds. If you buy the bonds directly from the federal government, you cannot redeem the bonds before their maturity date. You have to use a broker to sell your bonds in the secondary market.
Treasury bonds have a maturity of 30 years which is unlike other securities issued by Treasury Department. These bonds are usually issued in face values of $1,000 but there are different minimum purchase values for different bonds issued by the Department.
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The US Treasury bond market is one of the largest in the world. Through the sale of bonds and other securities, the U.S. government managed to amass a yearly debt of more than $200 billion since 1985. The daily US Treasury bonds and other securities volume is nearly $100 billion. 
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