U.S. government bonds have had a tough time this year. And then there’s the 20-year old bond, which has faced its own unique problems.
Reintroduced last year for the first time since 1986, the 20-year bond was intended to help the government get the lowest possible long-term borrowing costs. For the past few weeks, however, investors have demanded extra payment to hold the 20-year bond instead of the 30-year, the government’s longest-maturity debt.
