August 19, 2019 / 1:21 PM / a month ago

U.S. reopens inquiries on ultra-long bond

Aug 19 (Reuters) - The U.S. Treasury Department is asking for updates from market participants about the possibility about selling ultra-long bonds after posing a similar inquiry in 2017 on issuing debt beyond 30 years.

The Treasury published on a note on its website late on Friday after the yields on U.S. 30-year Treasury bonds fell to a record low of 1.916% on Thursday, prompted by a safe-haven rush into low-risk government debt because of recession fears.

“As part of an ongoing and periodic review of potential products that the U.S. Treasury Department might consider issuing, Treasury’s Office of Debt Management is conducting broad outreach to refresh its understanding of market appetite for a potential Treasury ultra-long bond (50- or 100-year bonds),” the Treasury said.

Treasury said no decision has been made on issuing ultra-long bonds.

“Treasury conducted similar outreach on this product in 2017, and wants to update its market intelligence,” it said.

Reporting by Richard Leong; Editing by Steve Orlofsky

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