The Wall Street Journal

Wall Street loves Washington’s new debt approach – for now

Wall Street loves Washington’s new debt approach – for now
Treasury secretary Janet Yellen. (Image: Getty)
The Wall Street Journal
By Andrew DuehrenSwelling deficits and weak investor appetite for long-term US debt are pushing the Treasury Department to get more creative with how it borrows. Markets are thrilled – but the approach comes with risks.The Treasury has long embraced the mantra of “regular and predictable” debt sales to avoid creating market volatility as it finances the US deficit. Recently, though, high interest rates have driven investors to eschew longer-term Treasurys. The government has had to adapt, cutting back this month on expected in...

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