Joshua Younger on the Treasury Market: Structure, Stressors, and Potential Reforms
Macro Musings with David Beckworth
00:00
How to Reform the Treasury Market
The standing repo facility is really interesting tooll. Its effectiveness varies with the environment. In an environment where banks are sized constrained, it's not particularly effective. But in a risk space like 20 19, then i'm a lot less affected by that consideration. I don't know if it would have completely solved the problem, but it certainly would have helped.
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