The Four Pillars of Macro with Andy Constan
Excess Returns
00:00
The Choice to Issue Riskier Long Term Securities
The US Treasury says, the private sector has its investment portfolio. It's like what it has because it owns what it has. The government wants to sell a 30 year bond and no one really cares much if they decide to issueOne year bond. People will take that one year bond gladly without worrying about what happened to their portfolio.
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