Wall Street Dealers Cold on Trump's

President Donald Trump's administration is touting the idea of Treasury bonds that won't pay off until after you're dead -- at a time when interest rates are near historical lows. The problem is, Wall Street doesn't think anyone will buy them.

The Treasury Borrowing Advisory Committee, a panel of executives from firms like JPMorgan Chase (JPM) , Citigroup (C) , Goldman Sachs (GS) and BlackRock (BLK) , told government officials in a meeting Tuesday that demand is likely to be limited for a 100-year bond, known colloquially as a century bond.

The group left open the idea of floating a 50-year bond, though a century bond would probably fail "due to limited pension or insurance cash flows beyond 50 years," according to minutes of the meeting released Wednesday.

"While an ultra-long is most likely to be demanded by those with longer-dated liabilities, the Committee does not see evidence of strong or sustainable demand for maturities beyond 30 years," the minutes read.

Treasury Secretary Steven Mnuchin, a former Goldman Sachs executive, has talked up the benefits of issuing a 50-year or 100-year bond, based on the notion that the government would be locking in low borrowing rates at a time when they're unlikely to go much lower. In recent years, countries including Mexico have sold 100-year bonds denominated in dollars, pounds and euros to do just that.

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