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The World's Biggest Bond Market Needs a Revamp, Why?

The $21 trillion Treasuries market is the bedrock of the global financial system. It’s not good when bedrock shivers, let alone shakes! But bouts of Treasuries turmoil have been happening more frequently and at times triggering large-scale interventions from the U.S. Federal Reserve. Pandemic-sparked volatility in March 2020 caused liquidity in the world’s biggest bond market to plunge to its worst since the 2008 financial crisis, sparking the Fed to go on a buying spree of Treasuries and mortga ....

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