

Darrell Duffie On How to Fix the World’s Most Important Market
In the global financial system, US Treasuries play a special role. They’re basically as close to cash as a financial asset can get and their yields act as the "risk-free" rate against which all other assets are measured. In other words, the US Treasury market is supposed to be the safest and most liquid in the world.…
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Darrell Duffie, The Adams Distinguished Professor of Management and Professor of Finance, Stanford University

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