September 12, 2019 / 12:48 PM / a year ago

Mnuchin: 50-year bond is seriously on the table for next year - CNBC

FILE PHOTO: U.S. Treasury Secretary Steven Mnuchin testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on "Housing Finance Reform: Next Steps" on Capitol Hill in Washington, U.S., September 10, 2019. REUTERS/Jonathan Ernst

(Reuters) - U.S. Treasury Secretary Steven Mnuchin said on Thursday the government will not issue a 50-year bond this year, but the prospect is “seriously” on the table for 2020.

Speaking on CNBC, Mnuchin said the Treasury Department has been discussing the possibility of issuing an ultralong bond with banks and investors.

“We think there is some demand” for a 50-year bond, Mnuchin said. “I think it would be a good thing to expand the U.S.’s borrowing capabilities.”

Currently the longest maturity of U.S. Treasury debt is 30 years.

Reporting By Dan Burns; Editing by Andrew Heavens

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