although I suppose it might be viewed as implied criticism.
10 yr. yield is under 1.7 (a scant 10 bp over the 2 yr) and the 30 yr is around 2 1/4.
Our national debt is very heavily skewed toward one and two year maturities- it would seem a wonderful time to start sharply lengthening the maturity of holdings. You know, Future Generations and all that.
Mnuchin is a smart (if thoroughly dishonest) guy. The only reason I can see not to is that it would probably slightly, and temporarily, raise yields on the longer bonds and that's the primary place that any (slight) economic stimulus would come from.
Although I think we could live with a 50bp 2/10 yield spread. Don't have to it all at once either if they think they'll be able to maumau the Fed down further.
You could also say that it is great opportunity to borrow more money but for stuff we need, not for tax cuts for corporations and the wealthy.
Trump would 100% go for an infrastructure bill but he poisoned the well with the Dems pretty badly last time with his walkout stunt.
The Base might not be delighted (Venezuela!!!) but he can get 'em back easy enough by hollerin' about Mexicans.
