Will the US unilaterally restructure outstanding Treasury debt (coupon, maturity, swap) by December 31, 2030?
Prediction market on manifold. This market resolves YES if the US federal government has, on or after January 1, 2026 and on or before December 31, 2030, unilaterally restructured previously-issued outstanding marketable US Treasury notes, bonds, or TIPS without bondholder consent. YES if any of the following has been announced and taken effect: Statutory reduction of stated coupon rate on outstanding Treasury debt Compelled extension of stated maturity on outstanding Treasury debt Compelled swap of outstanding Treasuries for new instruments with materially altered cash flows (lower coupons, longer maturities, principal haircut), including a "Mar-a-Lago Accord"-style forced swap of foreign holdings Statutory cap on Treasury interest payments that materially reduces coupon receipts on outstanding debt Targeted excise/withholding tax on Treasury coupon income applied retroactively to outstanding debt NO if none of the above has occurred by December 31, 2030, or if only the following have occurred: Voluntary exchange offers where holders consent Maturity-neutral debt buybacks at market prices Treasury bill restructurings or non-marketable securities restructurings Technical defaults cured within ordinary administrative timelines General tax-rate changes affecting after-tax yield Federal Reserve balance-sheet operations on Treasuries it holds Resolution sources (priority order): US Department of the Treasury announcements (treasury.gov) US Federal Register notices Acts of Congress (congress.gov) Bloomberg, Reuters, Wall Street Journal, Financial Times
24h Volume: $2,000. Liquidity: $10,000. Resolves: 12/31/2030.