What Happens When the Treasury Market Is Not Liquid?

If you can't stabilize this market, then the entire portfolio application of everyone is te stabilized rate. The liquid assets that you use as your piggy bank are the treasuries. This is ta moment when governments around the world really want to issue debt. In britain, in the third week of march, the bank of england has been worried about the ability of the u.K. Government to fund itself. And nooe to spend too much timeon on fed ty provision. I really don't think people realize how close to disaster we were in march if the fed hadn't stepped in.