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2 posts on "auctions"
October 14, 2015

Dealers’ Positions and the Auction Cycle

Michael J. Fleming and Collin Jones

Michael J. Fleming and Collin Jones The aftermath of the financial crisis and changes in technology and regulation have spurred a spirited discussion of dealers’ evolving role in financial markets. One such role is to buy securities at auction and sell them off to investors over time. We assess this function using data on primary […]

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Posted at 7:00 am in Financial Institutions, Financial Markets | Permalink
February 20, 2013

Primary Dealers’ Waning Role in Treasury Auctions

On December 12, 2012, primary government securities dealers bought just 33 percent of the new ten-year Treasury notes sold at auction.

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Posted at 7:00 am in Financial Markets, Treasury | Permalink | Comments (2)

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Liberty Street Economics features insight and analysis from New York Fed economists working at the intersection of research and policy. Launched in 2011, the blog takes its name from the Bank’s headquarters at 33 Liberty Street in Manhattan’s Financial District.

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