Submitted by cpowell on Fri, 2017-02-24 01:15. Section: Daily Dispatches
By Joe Rennison
Financial Times, London
Thursday, February 23, 2017
NEW YORK — Steven Mnuchin, U.S. Treasury secretary, said today that his staff have begun to look into issuing U.S. government debt with maturities of as long as 50 or 100 years.
Mr. Mnuchin said he was not making any “formal announcement” on whether the Treasury would issue longer-dated bonds but he had “already begun to talk to staff” about it. This builds on earlier comments made before he took office that he was open to the idea.
The move would mark a historic shift in policy for the world’s largest and most actively traded government bond market, which has avoided issuing debt of longer than 30 years even as other countries such as Belgium, Austria, and Mexico have sold longer bonds. …
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