OFR Models One Theory on the Cause of March 2020’s Treasury Market Fragility

Gregory Phelan and Thomas Eisenbach

No 23-08, The OFR Blog from Office of Financial Research, US Department of the Treasury

Abstract: Flight-to-safety in times of stress can have a destabilizing effect and trigger a dash for cash or even a market run by liquidity investors. Keywords: Treasury markets, flight-to-safety, dash for cash

Date: 2023-04-03
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