Dwight D. Eisenhower at the American military cemetery in Colleville-sur-Mer, Normandy, 1963 https://t.co/rU0UMNwtow
OUT NOW: Chartbook Newsletter # 5 What Happened in the US Treasury Market in March 2020? Take 1 of 4. adamtooze.substack.com/p/chartbook-ne… Sign up at adamtooze.substack.com
March 2020 was a dollar crisis like no other! Foreign reserve managers were selling US Treasuries but NOT to dump dollars as we once imagined.
March 2020 shook the US Treasury market, the bedrock of global financial system. Who did the damage? Hedge funds? Mutual funds? Foreign reserve managers? Either