The Treasury Department is launching a new 20-year bond in an effort to fund a record level of borrowing the government will need to do this year to support the economy through the coronavirus pandemic. As part of its quarterly refunding, the department said it will introduce a 20-year coupon bond later this month. An auction May 20 will feature a sale of $20 billion worth as part of an effort to push the record-setting debt levels further out in terms of duration. “Treasury’s borrowing needs have increased substantially as a result of the federal government’s response to the COVID-19 outbreak,” Brian Smith, ... (full story)