Strengthening the resilience and liquidity of the US Treasury market

About this Event

The U.S. Treasury market is the deepest and most liquid market in the world. That feature has been essential to funding the U.S. government at the lowest cost to the taxpayer and to fostering global financial stability. But changes in technology, regulation, and the nature of investors who buy Treasury debt—along with rapid growth in Treasury debt because of large and persistent budget deficits—are changing the market in ways that may erode its traditional role in the U.S. economy and financial markets. Sporadic instances of market dysfunction in the past decade, some of which prompted huge interventions by the Federal Reserve, have focused attention on reforms to ensure that Treasury markets remain liquid even in periods of heightened financial stress. On the morning…

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