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US ultra-long bonds 'under very serious consideration,' Treasury chief says

U.S. Treasury Secretary Steven Mnuchin said issuing ultra-long government debt is "under very serious consideration" by President Donald Trump's administration, Bloomberg News reported Aug. 28.

Mnuchin said officials held a meeting earlier in the day to review the issuance of 50-year or 100-year bonds.

"If the conditions are right, then I would anticipate we'll take advantage of long-term borrowing and execute on that," Mnuchin told Bloomberg News in an interview.

Mnuchin denied that the recent drop in yields on shorter-term U.S. debt revived the administration's interest in the ultra-long bonds.

Earlier in August, the Treasury Department said it was conducting "broad outreach to refresh its understanding of market appetite" for potential ultra-long bonds.

"No decision regarding whether to issue such a product has been made," the department then said. "Treasury conducted similar outreach on this product in 2017, and wants to update its market intelligence."