Treasury’s 20-year bond auction was a success – Is a 50-year bond next?

Now that the U.S. government has learned that the first 20-year Treasury note since 1986 was successful, is a 50- or 100-year bond next?

The Treasury Department announced that the $20 billion auction was sold at 1.220 percent. Primary dealers were given 24.6 percent, indirect bidders received 60.7 percent, and direct bidders got 14.7 percent.

Now we know what will account for a larger share of the $2.999 trillion the government plans to borrow in the second quarter.

What benefited the 20-year note was that there was limited supply, so that raised its value.

Meanwhile, the U.S. bond market was in the red on Wednesday. The benchmark 10-year Treasury was down 0.029% to 0.682%.