Talking U.S. Treasurys with Trader TV

Talking U.S. Treasurys with Trader TV

U.S. Treasury markets hit volume records in the spring of 2020, but after the Fed stepped in markets got downright sleepy. OK, well maybe not…

The Future of Investing

The Future of Investing

I was invited to be a part of this great conversation about the future of investing, with a focus on the electronification of the bond market and the role ETFs now play there.

US Treasury Market Structure Is Definitely Changing

US Treasury Market Structure Is Definitely Changing

Greenwich Associates just published my recent work examining changes to how US Treasurys are traded.  After years of little change, some real disruption now seems…

Does passive investing have room to grow?

Does passive investing have room to grow?

Volatility finally returned to the market in the first half of 2018, and by all accounts the market structure held up remarkably well.  To date,…

Putting Alternative Data to Work

Putting Alternative Data to Work

Alternative data is becoming a coveted tool for institutional investors seeking alpha. But as many on the buy side can attest, turning a seemingly endless…

Bonds, AI, alternative data and the radio

Bonds, AI, alternative data and the radio

The more things are changing, the more interesting it is to do research.  And thankfully change doesn’t seem to stop coming.  The last decade has…

FX Market Structure, Flash Crashes and Market Making (Bloomberg TV)

FX Market Structure, Flash Crashes and Market Making (Bloomberg TV)

My conversation with Bloomberg TV following the overnight volatility spike of the Pound.  And no, I really don’t want to call it a “flash crash”.

Global FX Investors Increasingly Seek Non-bank Liquidity

Global FX Investors Increasingly Seek Non-bank Liquidity

Below is the press release for my most recent paper examining changes in the global FX market.  The bottom line: big banks will continue to…