Answer: the risk premium on long-term government bonds was zero percent.
Explanation:
Risk premium is the extra interest added on a instrument's return to account for the inherent risk in the instrument.
In the case of a Government bond be it long term or short, this risk premium will most likely be zero because the Government bond is backed by the Authorities who could imply raise taxes or print more money to pay off bonds so their riskiness is quite low. US Treasury bonds for instance have the lowest rates of their class of bonds because of the low risk attached to them.
