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Opinion
Lisa Abramowicz

China's Back at the Treasury Counter

The gap between shorter and longer-term U.S. government debt is poised to shrink.

It's significant that China is buying U.S. Treasuries again.

It means that the path of least resistance for benchmark U.S. government bond yields is lower, not higher. And it means that the gap between shorter and longer-term U.S. government debt will more likely contract than widen.