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U.S. Treasury Bond Futures Contract

U.S. Treasury bonds, or T-Bonds, represent a loan to the U.S. government. T-Bond holders are creditors rather than equity or share-holders. The U.S. government agrees to repay the principal or par amount of the security at maturity, plus coupon interest. Participating in 30 year T-Bond futures allows a trader to assess the direction of interest rates as well the ability to hedge risk at the short end of a yield curve. 30 year T-Bond futures can also allow an investor to use a different trading strategies such as spread trading against different Treasury futures.

Contract Unit

Face value at maturity of $100,000

Futures Contract


CME Globex: ZB

Trading Hours 

CME Globex: Sunday – Friday 5:00 p.m. – 4:00 p.m. Chicago/Central Time (CT).

Minimum Price

1/32 of one point = $31.25

Contract Months

Quarterly: March, June, September & December

Settlement Method


Price Limit / Circuit

Source: CME Group

The above information was derived from sources believed to be reliable and accurate. It is provided without guarantees and is subject change without notice.

Since 2001, Insignia Futures & Options has been providing commodity futures brokerage services to investors from all over the world.

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