Brian Fitzsimmons

In this discussion, Brian Fitzsimmons, Head of North America Rates Securities Trading at J.P. Morgan, shares his expertise on the U.S. Treasury cash-futures basis trade. He explains the intricacies of this arbitrage strategy and its relevance amid market volatility. The conversation dives into the dynamics of leverage, regulatory impacts on treasury demand, and the implications for financial stability. They also explore the challenges posed by increased Treasury issuance and the importance of managing liquidity and counterparty credit risk.