report June 6, 2020 Still the World’s Safe Haven? Redesigning the U.S. Treasury Market After the Covid19 Crisis Darrell Duffie[1] Graduate School of Business, Stanford University June 6, 2020 Prepared for presentation at the Hutchins Center on Fiscal and Monetary Policy Brookings Institution, May 27, 2020 Abstract: I review the functionality of the secondary market for U.S. Treasuries in March 2020, when the Covid-19 crisis triggered investor flows... By Darrell Duffie Darrell Duffie
