, Columnist
Long, Long Bonds and Even Longer Odds
Big banks and political realities stand in the way.
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Steve Mnuchin, just getting his feet wet as the new U.S. Treasury Secretary, isn't giving up on the idea of ultra-long bonds.
The Treasury Department released a questionnaire to primary dealers on Friday, asking for detailed responses about their appetite for 40, 50 or 100-year bonds, as Bloomberg's Alex Harris reported on Tuesday. While this isn't the first time that the agency has floated the idea of such long-dated debt, this is its most detailed and specific inquiry in recent memory.