Council of Councils
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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
Can the US learn something from France?
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The arch-capitalists at Morgan Stanley seem to think so.
France is considering issuing a 50 year bond. Why not, with eurozone interest rates so low?
The US is shortening the maturity of its debt, and refusing to consider locking in a nominal rate of 4.5% over thirty years.
Check out the minutes of the most recent Treasury Borrowing Advisory Committee. The issues discussed by the big boys over at the Hay-Adams hotel -- the foreign central bank bid, and the interest rate and rollover risk implicit in the Treasury’s attempts to continue to shorten the maturity of the US debt stock -- should sound fairly familiar ...
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