It’s a bet on the continued existence, and willingness/ability to honor its obligations, of the US federal government.
If that bets goes bad, the typical investor in Treasuries has perhaps bigger problems to worry about, but it’s still a bet IMO (and one which will inevitably eventually go bad).
If that bets goes bad, the typical investor in Treasuries has perhaps bigger problems to worry about, but it’s still a bet IMO (and one which will inevitably eventually go bad).