NPR. This is The Indicator from Planet Money.
I'm Waylon Wong.
And I'm Paddy Hirsch.
The long bond dodged a bullet last week after investors stepped up in larger than expected numbers to...
Whoa, okay.
I'm going to stop you right there, Paddy.
You go away on vacation and you come back stuffed with jargon.
Maybe... you should start by just telling our listeners what the long bond is.
Sorry, yes.
The long bond is the 30-year Treasury bond.
It's the longest maturity bond issued by the U.S. government.
And when you say it dodged a bullet,
you're talking about that sale of 30-year bonds that the Treasury held last week.
I am indeed.
Yeah,
people were worried that because of the way things have been a bit rocky in the economy recently,
no one would actually show up to buy the bond, which could trigger a rise in interest rates.
That didn't happen, though.
It did not, I'm happy to say.
But...