Treasury bond futures is a kind of financial derivative tool, which is used to trade bonds issued by the government. They can help investors manage interest rate risks, improve market liquidity and improve the efficiency of the bond market.

The United States is the first country in the world to introduce treasury bonds futures. From 65438 to 0976, CME launched the world's first treasury bond futures contract. The contract is based on the long-term treasury bonds issued by the US government, with a face value of $654.38 million+,based on the interest rate of three-month US treasury bonds.

Since then, treasury bond futures have been gradually promoted around the world, and many countries or regions (such as Britain, Japan, Australia, Singapore, etc. ) also launched its own treasury bond futures contract. These contracts are usually based on long-term bonds of local governments, such as British gilts and Japanese government bonds.

Generally speaking, treasury bond futures play an important role in the global financial market. They provide investors with tools to manage interest rate risks, improve the efficiency of the bond market and promote the integration of global financial markets.