U.S. Treasury: Sorry, No More Bills, Bonds or Notes
By JONATHAN FUERBRINGER
A world without a Treasury market? That was unimaginable a few years ago, when budget deficits stretched as far as the eye could see. But with a rising government surplus, the unthinkable no longer seems beyond the pale.
Many traders and analysts, expecting the White House and Congress to give away most future surpluses through tax cuts and spending, still consider the Treasury market's demise unlikely.
But because the projected surpluses are large and have a momentum of their own, it could happen a lot faster than many think.