Betting on long Treasury bonds when yields near 5% has been a slam-dunk trade over the past few years. Is this time different?

“There is not a ‘break-the-glass’ solution,” says former Treasury Secretary Steven Mnuchin of backup plans if the U.S. can’t finance its debt.

​“There is not a ‘break-the-glass’ solution,” says former Treasury Secretary Steven Mnuchin of backup plans if the U.S. can’t finance its debt.