Regardless of whether Biden passes big stimulus in 2021, US budget deficit will likely stay above 8% of gdp = historic surge in debt -> Treasury market needs to be fit for purpose. @TheEconomist
Argues for clearing to replace creaky primary dealer system. economist.com/leaders/2020/1… https://t.co/VtvDv3Kfv5
@yannick___m The small matter of 2020 and two books. But, it is in the works.