SVB’s Collapse Shows the World’s Favorite Safe Asset Isn’t Risk-Free
US Treasuries came back to haunt investors and bankers who ignored the basics of interest-rate risk—and there could be more surprises in store.
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### Instruction: SVB’s Collapse Shows the World’s Favorite Safe Asset Isn’t Risk-Free

### Response: US Treasuries came back to haunt investors and bankers who ignored the basics of interest-rate risk—and there could be more surprises in store.