Editor’s Note: this article has mixed in some accurate and inaccurate points. Most importantly, we know nothing to suggest that policymakers are looking at full clearing for US repo. Further, our November 2020 report, “US Repo Participants on Market Conditions and Prospects for 2021“, shows much more nuanced thinking by US repo market participants than this article would suggest.
Dealing fix for Treasury securities market is needed now
John Dizard, Financial Times, January 15, 2021
The Trump Show made the point that the US never really settled the war with the Confederacy. During the Biden administration, the conflict between large dealer banks and the populist left will be more bitter than ever.
The full article is available at https://www.ft.com/content/f3e2e3ca-e79e-418c-822f-11ab1304a051