Why Treasury Market Spasms That Shouldn't Happen Keep Happening
The U.S. Treasury market is the biggest, most liquid market in the world. Its smooth functioning is also crucial to the economy and the financial system. Yet it keeps experiencing bizarre, seemingly i...
8 Apr 202148min
Why the True Price of a Bond Can Still Be Hard To Know
In the modern age, we expect to be able to turn on our computers, enter in a ticker, and know the actual price of a financial instrument, such as a stock or a bond. But this is easier said than done, ...
5 Apr 202142min
The Ex-Jane Street Trader Who's Building a Multi-Billion Crypto Empire
The crypto market has come a long way in recent years. But it's still far less efficient than your typical established market. To understand more about crypto market structure, we spoke with Sam Bankm...
1 Apr 20211h 6min
How Gigantic Ships Are Creating Global Supply Chain Havoc
The Ever Given has been freed from the Suez Canal. But the whole situation was indicative of a broader issue in global supply chains: increasingly large ships are contributing to logistical bottleneck...
31 Mars 202131min
Virtu CEO Doug Cifu Explains Payment for Order Flow and the Future of HFT
When the GameStop and Robinhood story exploded at the end of January, suddenly everyone took an interest in market structure and things like payment for order flow, as well as the role that high-frequ...
29 Mars 20211h 5min
Josh Younger on the Soaring Cost of Climate Change and Understanding the SLR
What is the connection between the big trend in interest rates over the last several years and the cost of climate change mitigation? This is a question that's been analyzed by Josh Younger, a rates d...
25 Mars 20211h 4min
Luke Kawa on the Macro Situation Right Now
Over the last several weeks, we've seen major developments in the macro situation. The vaccine rollout has accelerated. We've gotten a stimulus. The economic outlook has improved. And rates have risen...
22 Mars 202149min
Stephanie Kelton on How MMT Won the Fiscal Policy Debate
In a sense, Modern Monetary Theory has won. This is not because policy measures are necessarily in line with what MMT adherents would prescribe. Rather, the debate over economic policy, in particular ...
18 Mars 202153min
