No One Wants to Catch a Falling Knife (FT)

The Financial Times’ recent story about the stability of the U.S. Treasury market examines if the most liquid market in the world is in fact liquid, and how it might stand up to another shock. My primary contribution to the story:

Source: Financial Times

The global financial crisis in 2008 changed a lot of things about the capital markets, including a reduced interest and ability of the biggest banks to provide liquidity how they did in 2005. Don’t get my wrong, they still provide an incredible amount of liquidity today, but its not like it was. Read the full story here: