(Bloomberg) — Treasury Secretary Steven Mnuchin said the government only intends to introduce ultra-long bonds if there's an audience for regular issuances of the debt.
"We're reaching out to the borrowing community and investors to see what the demand is," Mnuchin said in an interview on Bloomberg Television on Tuesday at an investment conference near Washington. "What we don't want to do is to create a program that is a completely one-off program. We want to see if it would be an important part of our borrowing capabilities."
Mnuchin in May said that ultra-long bonds " absolutely make sense," and formed an internal working group to study maturities of 50-and 100-year debt.
The work will be assessed along with feedback from the Treasury Borrowing Advisory Committee, whose members include executives from JPMorgan Chase & Co., Bank of America Corp., Citadel LLC, and Goldman Sachs. It also includes representatives from affiliates of three major life insurance and annuity providers: Voya Financial Inc., Prudential Financial Inc., and Allianz A.G.
