One aspect of this market that I find fascinating is the dramatic yield spreads between short-term Treasury yields [^IRX] and just about everything else. Short-term Treasuries have one major benefit ...

Liquidity Preference is one of the few terms in a VC term sheet (other than drag along/vesting and management rights) that really evoke strong reactions from either side. While Majority (or rather 100 ...

This paper shows that a "precautionary" demand for money can be derived in models of the state of nature variety with uncertain cash requirements even if sales of assets incur no real cost and ...

Questions are being raised again inside the $27 trillion Treasury market, home of one of the world’s safest and most liquid assets, about the ease with which some U.S. government securities can be ...