Joshua Younger on the Treasury Market: Structure, Stressors, and Potential Reforms
Macro Musings with David Beckworth
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Is There a Fair Assessment of the Cash Market?
J, i want to go focusing on that a bit, because there's been some interesting changes over the past decade. Now these primary trading firms, or ptfs, doing electronic trading, almost like algorithms, is taking over the market. Is that a fair assessment? Let's maybe take a broader view. The most stable form of end usurs is arguably a foreign central bank,. They've issued money on the other side of their balance sheets.
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