The latest Treasury Borrowing Advisory Committee meeting included discussion of issuing ultra-long bonds with maturities from 40 years to as long as 100 years. 100 year bonds? Turns out these ultra-long issues exist in the corporate and municipal market and now some advisors are recommending the US Treasury start issuing them.
It isn't likely to happen anytime soon, but Treasury is already pushing average maturities farther out the curve. Combine that with a couple of big name ultra-long issues last year and I think some smart money folks are telling us interest rates are headed higher.
What's your opinion? Are rates done climbing or are they headed higher?