Tobias Adrian, Michael J. Fleming, Or Shachar, Daniel Stackman, and Erik Vogt Second in a six-part series Recent commentary suggests concern among market participants about corporate bond market liquidity. However, we showed in our previous post that liquidity in the corporate bond market remains ample. One interpretation is that liquidity risk might have increased, even as the […]
October 6, 2015
October 5, 2015
Has U.S. Corporate Bond Market Liquidity Deteriorated?
Commentators have argued that market liquidity has deteriorated in recent years as regulatory changes have reduced banks’ ability and willingness to make markets.
Posted at 11:02 am in Financial Institutions, Financial Markets, Liquidity | Permalink | Comments (4)
Introduction to a Series on Market Liquidity: Part 2
Market participants and policymakers have raised concerns about the potential adverse effects of financial regulation on market liquidity—the ability to buy and sell securities quickly, at any time, at minimal cost.
October 2, 2015
Crisis Chronicles: Defensive Suspension and the Panic of 1857
Sometimes the world loses its bearings and the best alternative is a timeout.
October 1, 2015
Introducing Our New App: Economic Research Tracker
Our experiment in blogging began four years ago, when we launched Liberty Street Economics.
September 30, 2015
Natural Experiment Sheds Light on the Market Effects of Herding
Pension funds are expected to behave in a patient, countercyclical manner, making the most of low valuations over the business cycle to achieve high returns.
September 28, 2015
Same Name, New Businesses: Evolution in the Bank Holding Company
When we think of banks, we typically have in mind our local bank branch that stores deposits and issues mortgages or business loans.
September 23, 2015
How Much Do Inflation Expectations Matter for Inflation Dynamics?
Inflation dynamics are often described by some form of the Phillips curve.
September 22, 2015
September 21, 2015
Are BHCs Mimicking the Fed’s Stress Test Results?
Angela Deng, Beverly Hirtle, and Anna Kovner In March, the Federal Reserve and thirty-one large bank holding companies (BHCs) disclosed their annual Dodd-Frank Act stress test (DFAST) results. This is the third year in which both the BHCs and the Fed have published their projections. In a previous post, we looked at whether the Fed’s […]
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