1.   It is reinforced further by the fact that they have a low default risk.

2.   Treasury bills are default-free, and high-quality commercial paper carries a minuscule default risk.

3.   Finally, bonds can be classified according to their default risk.

4.   The default risk on a bond is usually assessed in the form of a credit rating.

5.   Default risk in the form of sector risk, quality risk, etc.

6.   Default risk will be measured by the price spread on the two bonds being compared.