Here's Why It's So Hard to Fix the Corporate Bond Market
Odd Lots18 Marras 2021

Here's Why It's So Hard to Fix the Corporate Bond Market

The corporate bond market is huge and important, allowing U.S. companies to tap investors for much needed borrowing. But even as sales of bonds have been booming in recent years thanks to low interest rates, the overall structure of the credit market and the way such debt is traded has been criticized for years. While stocks trade electronically on exchanges that provide instant and competitive quotes, a majority of corporate bond trades are still done over the phone or on platforms that tend to favor certain participants over others. Despite many efforts to improve ease of trading and price transparency in this vital market, progress has been slow.

On this episode, we speak with Larry Harris of the USC Marshall School of Business and a former Chief Economist at the U.S. Securities and Exchange Commission, where he helped push through major stock market reform known as Reg NMS, about why the corporate bond market has been so resistant to substantial change. Harris was also part of the SEC's most recent effort to improve corporate bond trading -- the Fixed Income Market Structure Advisory Committee (FIMSAC) created in 2018. He explains why it hasn't had much success in changing the market.

See omnystudio.com/listener for privacy information.

Jaksot(1186)

Dan Wang on China's Breakneck Economic Growth

Dan Wang on China's Breakneck Economic Growth

In the past couple of years, the world has fully awoken to the incredible economic and technological growth exhibited by China. But what lessons are there for America? Are there even lessons for Ameri...

1 Syys 202549min

Big Take: Taylor Swift Wedding Predictions Are the Hottest New Trade

Big Take: Taylor Swift Wedding Predictions Are the Hottest New Trade

Gamblers on prediction sites like Polymarket and Kalshi are already trying to cash in on Taylor Swift and Travis Kelce’s engagement — betting on everything from their wedding timeline to her next sing...

31 Elo 202515min

Emi Nakamura on Central Bank Credibility and the Taylor Rule

Emi Nakamura on Central Bank Credibility and the Taylor Rule

The post-Covid inflation will prove to be a treasure trove for academic economists, as they study what drives inflation, and the power that central banks have to contain it once it gets going. At this...

29 Elo 202536min

Liz Truss on the 'Doom Loop' Engulfing the UK Economy

Liz Truss on the 'Doom Loop' Engulfing the UK Economy

These days, everyone is talking about high interest rates across the rich, developed world, while warning of eventual fiscal disaster. But we may have gotten an early glimpse of this anxiety in Octobe...

28 Elo 202558min

Lev Menand on Trump's Attempt to Fire the Fed's Lisa Cook

Lev Menand on Trump's Attempt to Fire the Fed's Lisa Cook

Criticism and threats to Federal Reserve independence have been building for some time in this administration. But it was taken to a new height on August 25, when Trump posted that he intended to fire...

26 Elo 202528min

Adam Posen on a Surreal Jackson Hole in a Post-American World

Adam Posen on a Surreal Jackson Hole in a Post-American World

The annual Jackson Hole symposium is, formally speaking, an academic conference. Economists and central bankers gather to discuss the most important, cutting edge ideas in monetary policy. But there w...

26 Elo 202557min

Tom Barkin on Why Central Banking Is on Hard Mode Now

Tom Barkin on Why Central Banking Is on Hard Mode Now

According to Richmond Federal Reserve Bank President Tom Barkin, much of the time central banking is straightforward. Sometimes it's clear that rate cuts are needed. Sometimes it's clear that rate hik...

25 Elo 202528min

Why Austan Goolsbee Is Still Concerned About Inflation

Why Austan Goolsbee Is Still Concerned About Inflation

Chicago Fed President Austan Goolsbee is still more concerned about the inflation side of the Fed's mandate than he is about the employment side. This is noteworthy because in general markets are expe...

23 Elo 202534min

Suosittua kategoriassa Liike-elämä ja talous

sijotuskasti
mimmit-sijoittaa
rss-rahapodi
psykopodiaa-podcast
rss-rahamania
rss-lahtijat
ostan-asuntoja-podcast
hyva-paha-johtaminen
rss-seuraava-potilas
rss-sami-miettinen-neuvottelija
rss-startup-ministerio
rahapuhetta
lakicast
rss-porssipuhetta
rss-bisnesta-bebeja
rss-sisalto-kuntoon
rss-set-for-life-sijoita-ja-vaurastu
rss-rahataito-podcast
rss-paasipodi
rss-viisas-raha-podi