US Treasury may bring back 30-year bonds

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The US Treasury's announcement that it would consider the reintroduction of the 30-year nominal bond sent shockwaves through the US bond market in early May. Immediately after the Treasury notification in its quarterly refunding statement on May 4, there was a large sell-off in off-the-run bonds, as investors repositioned their flattening trades.

William Prophet, head of government bond strategy at UBS, says: "People were long those bonds and were short 10-year bonds, and that curve started s

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