Larry Summers on the prospect of the U.S. Treasury issuing 50-year bonds

Doing that would be a major gift to all the fixed income trading desks at all the hedge funds, at the expense of taxpayers.  Given the way it's likely to be priced, it would turn out to be a major setup for arbitrage opportunity, so it won't happen anytime soon.

~ Larry Summers, interview on Bloomberg Wall Street Week, January 22, 2021