Economics
Steven Mnuchin Sees 20-Year Bonds Extending Average Treasury Maturity
- Decision on 50- or 100-year bonds not in ‘near term,’ he says
- U.S. yield curve flattens following comments by Treasury chief
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U.S. Treasury Secretary Steven Mnuchin said the country’s new 20-year security will extend the average maturity on the government’s debt while adding that ultra-long bonds aren’t coming any time soon. The Treasury yield curve flattened following his comments.
Issuing ultra-long bonds, those due in more than 30 years, is “no longer on the near term -- our focus for the moment is issuing the 20-year,” Mnuchin said in an interview in Davos, Switzerland, where he’s attending the World Economic Forum.