This is a fun and directionally interesting comparison, but it's ultimately meaningless. Cash flows with different durations can't be used in carry trades so t

This is a fun and directionally interesting comparison, but it's ultimately meaningless. Cash flows with different durations can't be used in carry trades so this cannot be exploited even if you have a hypothesis about the relative risk of each asset. Convexity increases the price of high duration cash flows which drives down yields of instruments such as the 30 year treasury.