from Follow the Money

Can the US learn something from France?

February 8, 2005

Blog Post

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Budget, Debt, and Deficits

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 ...

More on:

Budget, Debt, and Deficits

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