Treasury Secretary Janet Yellen has some explaining to do, according to billionaire hedge-fund titan Stanley Druckenmiller. Yellen missed an important opportunity, Druckenmille says, by not issuing more long-dated Treasury bonds when interest rates were near zero during the aftermath of COVID-19.
“Janet Yellen, I guess because political myopia or whatever, was issuing 2-years at 15 basis points…when she could have issued 10-years at 70 basis points or 30-years at 180 basis points,” the former hedge-fund manager said during a conversation with Paul Tudor Jones at the Robin Hood Investors Conference, a clip of which circulated Monday on X, the social-media platform formerly known as Twitter. “I literally think if you go back to Alexander Hamilton, it is the biggest blunder in the history of the Treasury,” Druckenmiller said.
…
Article Attribution | Read More at Article Source