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U.S. Treasury launches 20-year bond to help finance record borrowing

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The U.S. Treasury Department said on Wednesday it will launch a long-planned 20-year bond and increase securities auction sizes across a range of maturities to raise cash to meet record government borrowing needs caused by the novel coronavirus outbreak.

FILE PHOTO: U.S. President Donald Trump speaks about the Paycheck Protection Program loans for small businesses adversely affected by the coronavirus disease outbreak, as U.S. Treasury Secretary Steven Mnuchin practices social distancing during an event in the East Room at the White House in Washington, U.S., April 28, 2020. REUTERS/Carlos Barria/File Photo

“While the initial increases in financing related to the COVID-19 outbreak response were focused on Treasury bills, Treasury expects to begin to shift financing from bills to longer-dated tenors over the coming quarters,” Brian Smith, Treasury’s assistant secretary for federal finance, said in a statement.

In the statement, Treasury said it intends to increase auction sizes across all nominal coupon tenors over the May-to-July period, with the increases larger in the 7-year, 10-year, 20-year and 30-year categories. The largest increase will be on the 10-year note. Congress has appropriated nearly $3 trillion in recent weeks as it seeks to stem the economic harm on businesses and households from widespread business shutdowns implemented to reduce the spread of the coronavirus.

 

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Then they would run the banknote printing machine to pay back, or make excuses to pay off.The U.S only wants the world to pay for the shrinking dollar value.

Trump: “I’m the king of debt. I’m great with debt. Nobody knows debt better than me,” “I’ve made a fortune by using debt, and if things don’t work out I renegotiate the debt. I mean, that’s a smart thing, not a stupid thing.” ... any other questions? ;)

America still haven’t paid the 1 trillion dollars you owe to China. Meanwhile the U.S. war machine cost taxpayers almost a trillion every year, which goes into the pocket of neoliberal/neoconservative corporatists/war mongers. Big army, but no healthcare for the poorest Americans

Lol.

RIP To anyone who purchases those. They will never be repaid.

In related news: Treasury to sell bonds to aliens since the US has tapped out everyone on the planet Earth.

Lol more inflate economy , Fed with blackrot ,

um ok

uh oh

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