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U.S. Treasury Secretary Steven Mnuchin

Treasury Secretary Steven Mnuchin said the U.S. is considering issuing ultra-long bonds and said the government wasn’t soon about to embark on a plan to weaken the U.S. dollar.

In an interview with Bloomberg News, Mnuchin said the Treasury could issue bonds with a 50- or 100-year maturity.

“If the conditions are right, then I would anticipate we’ll take advantage of long-term borrowing and execute on that,” Mnuchin said.

Mnuchin’s comments come as yields on government bonds in the U.S. and elsewhere have plummeted.

The yield on the benchmark 10-year Treasury

TMUBMUSD10Y, +1.36%

  on Wednesday was 1.47% — down from 3.23% as recently as November. The 10-year yields on German and Japanese government bonds are negative.

Meanwhile, Mnuchin also said the Treasury Department “at this time” wasn’t about to take steps to weaken a dollar

DXY, +0.03%

 that President Donald Trump has said was too strong. “Situations could change in the future but right now we are not contemplating an intervention,” Mnuchin said.

Trump has said the Federal Reserve needs to cut interest rates by a full percentage point, after the central bank reduced rates by a quarter-point in July.

The WSJ Dollar index

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 is up 2.5% over the last 52 weeks.

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