Treasury discontinues 30-year bonds.

• Position: News Briefs

The United States Treasury has announced that it will no longer sell 30-year bonds. On the day of the announcement, the bonds recorded their largest one-day price gain ever, while yields took their biggest dive since the 1987 stock market crash. Despite the Treasury's increased emphasis on 10-year notes in recent years, the move caught the market by surprise. In the wake of the announcement, experts disagree about the reasons...