U.S. Secretary of the Treasury Steven Mnuchin first hinted in November that the Trump administration would entertain the idea of selling ultralong Treasuries-bonds that wouldn't mature for perhaps 50 years. The consensus across Wall Street was pretty clear: Don't do it. There would be no easy way to lure a steady stream of buyers, the skeptics said, and the bonds might not be as good a deal for U.S. taxpayers as they seem.
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