Well, treasurers looking to park their cash and use US Gov debt guarantees usually buy shorter dated treasury bills - around 3-6 months. This matches their dura

Well, treasurers looking to park their cash and use US Gov debt guarantees usually buy shorter dated treasury bills - around 3-6 months. This matches their duration - chances are they will need the money quickly. In general treasurers match the duration of liabilities (when they will need the money) with the duration of assets (bonds). If SVB really parked most of the cash in 10-year old treasury bonds that sounds.... questionable...