[1]You might ask—why has this guy given so many speeches, then and now, on the Treasury markets? Foremost, it’s because the Treasury markets are the base upon which so much of our capital markets are built. In 2019, principal-trading firms represented approximately 61 percent of the volume on the interdealer broker (IDB) platforms in the Treasury markets. This was on the heels of very significant problems in 2019 in the Treasury repo markets. Twenty-five years later, we can’t stop our focus on reforms to bring greater efficiency and resiliency to the highly consequential Treasury markets.

Source: Wall Street Journal November 07, 2023 17:51 UTC