Joshua Younger on the Treasury Market: Structure, Stressors, and Potential Reforms
Macro Musings with David Beckworth
00:00
The Dash for Cash
In early 20 20, the market dashing for cash. What exactly happened? It led to that nming. There was this cognitive distance in the regulatory framework which was not particularly relevant most of the time and became really problematic in 20 20. And essentially, everyone wanted to sell their treasuries at the same time they all wanted cash. Because they all want cash, the market had to provide that transfer one direction or another.
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