Photo: People walk past the U.S. Treasury Department in Washington, D.C., on January 18, 2023. (Photo by Anna Moneymaker/Getty Images) People walk past the U.S. Treasury Department in Washington, D.C., on January 18, 2023. (Photo by Anna Moneymaker/Getty Images)

U.S. Treasuries are seen globally as the world's favored haven asset. Yet it's short maturities that best fit that definition, according to a Federal Reserve Bank of Dallas paper.

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