What is a difference between a treasury bill and a treasury bond?

A treasury bill is a more long$-$term form of government debt than a treasury bond.

A treasury bill does not pay coupons; it only pays the owner on the maturity date. Treasury bonds can pay coupons.

A treasury bill is a nontransferable debt contract, whereas a government bond can be bought and sold on the open market.

A treasury bill is a piece of legislation, whereas a treasury bond is a form of government debt.

What is a difference between a corporate bond and a municipal bond?

Municipal bonds can only be held by a resident of the state or municipality taking on the debt. Corporate bonds may be held by anyone.

Municipal bonds tend to be shorter$-$term forms of debt than corporate bonds.

Corporate bonds are bought and sold on the open market, whereas municipal bonds are payable only to the original purchaser.

Interest earned from corporate bonds is a form of taxable income, whereas interest earned on a municipal bond is not typically taxed.