[JPMorgan Asset Management Calls on US Treasury to Cancel 20-Year Treasury Bonds] Bob Michele, global head of fixed income at JPMorgan Asset Management, has advised the US Treasury to cancel 20-year Treasury bonds, stating that they "had their place in another era, but no longer do." He made these remarks before the Treasury announced its quarterly bond issuance plan on Wednesday, saying that nobody likes 20-year bonds. Long-term Treasury yields have recently surged to their highest levels since 2002, leading to market speculation that the Treasury will shift its issuance focus to shorter-term Treasury bills and medium-term bonds in the coming months. However, a complete cancellation of 20-year bonds remains a low-probability tail-end scenario, with none of the traders surveyed considering it a benchmark expectation. (Cailian Press)