Step into the WayBack machine for a moment. Clinton was in the White House and the Treasury concluded that we would not need 30 year bonds anymore because the government was running a budget surplus for the foreseeable future.
A few years with that Harvard MBA at the helm and the 30 year bond is back with a vengeance.
Bond's Return to Yield Winners
Revival of 30-Year Treasury Sales
Could Aid Security of Pensions,
Profits of Traders and InvestorsAugust 3, 2005
The Treasury stopped selling new 30-year bonds in 2001, a time when the government expected to be running budget surpluses and reducing the national debt. As a result, the market no longer has any true 30-year government securities: The "longest" Treasury bond -- the last one sold in 2001 -- now matures in 26 years.
