BNP WARNS AXING 20-YEAR TREASURY COULD BACKFIRE BNP Paribas warns eliminating the 20-year Treasury bond could push yields higher, signaling panic and encouraging bond vigilantes rather than lowering borrowing costs. The bank maintains its 30-year Treasury short, targeting a yield of 5.8% versus 5.64% currently. BNP says Treasury interventions are ultimately a “band-aid on a gunshot wound” unless underlying inflation and fiscal deficits are addressed.(彭博社)