The shortest term debt instrument in the United States is the Federal Funds Rate, which is an overnight rate--one day maturity-- and the longest issued by the Government is a thirty-year government bond, which will be repaid three decades in the future.

美国最短期的债券,是联邦基金利率,隔夜拆兑,一天到期,而时间最长的国债,是一种三十年期的政府债券,未来三十年才兑现

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Otherwise, everyone would be buying 30 year treasuries and selling them a day before maturity.

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"The maturity he showed yesterday in everything he did, from his Derby day to his experience in the paddock, which was tremendous, going in the post and the way he raced, it was kind of amazing to me, " he said.

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