, Columnist
The 100-Year Bond Man
Ultra-long-dated securities can lock in low borrowing costs, but investors can sour on them quickly.
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When interest rates are low, it makes sense to borrow money for as long as possible.
That's what France, Austria, Mexico and Italy have all done in recent years. These nations and others have sold debt maturing in half a century or longer as central banks suppressed borrowing costs globally. The U.S. has resisted following suit. Until now, perhaps.