Stablecoins are already meaningful players in the Treasury market, as we show in more detail in a recent paper with @rashad-ahmed.bsky.social www.bis.org/publ/work127...

New @anderseninstitute.bsky.social Note: "When financial regulation becomes financial repression" (link below) We take a macro view on the interactions between: (i) high and rising debt (ii) OBBB expansionary spending (iii) GENIUS Act stablecoin legislation (iv) SLR bank capital reform

Nice Big Read by @staffordphilip.bsky.social on stablecoins, featuring our paper with @rashad-ahmed.bsky.social on the impact of SCs on the Treasury market on.ft.com/3ZvMDw5

Great Long Read by @katie0martin.ft.com featuring our recent paper with @rashad-ahmed.bsky.social

Aaaand new paper is out! “Stablecoins and safe asset prices” with the awesome @rashad-ahmed.bsky.social Quantifying the effects pf stablecoin flows on Tsy yields with instrumented linear projections, documenting asymmetric effects of inflows vs outflows www.bis.org/publ/work127...

If tariffs are going to improve US debt sustainability then why is US default risk going up? #Finsky #Econsky

Join us at the 2025 Johns Hopkins Geoeconomics Conference Keynote Presentation and Panel Discussion 🗓️ Friday, May 2 | 2:00–7:00 PM 📍 Hopkins Bloomberg Center, Washington, DC 🔗 Register here: lnkd.in/eEzhX_PQ. The conference Website is here: lnkd.in/eGbz-s_j #Geoeconomics #JohnsHopkins

The idea that these tarriffs will be recessionary is consistent with cross asset market moves and even more directly, rising recession odds in prediction markets equities (-) mid/long rates (-) STIR fwds (-) inflation fwds beyond 1-year (-) crude oil (-)

Turns out that RRP drainage was highly responsive to T-bill supply

@katie0martin.ft.com notes that the US Treasury market reflects the inconsistencies in the administration's policy goals www.ft.com/content/5d69... @rashad-ahmed.bsky.social and I find that dealers' constraints are a geopolitical vulnerability cepr.org/voxeu/column... #Econsky #AcademicSky

What was meant as a quick n dirty weekend analysis by @arebucci.bsky.social and I.. now catching the attn of @reuters.com and @financialtimes.com. Grateful to see interest in our work Our piece: cepr.org/voxeu/column... FT: on.ft.com/3QaAVCc Reuters: www.reuters.com/markets/rate...

Video interviews are not my favorite, and I don't like to rewatch myself, but you might find this discussion of our paper with @rashad-ahmed.bsky.social on the price impact of foreign official sales of treasuries on their yileds informative: www.youtube.com/watch?v=FGGQ... #Econsky

New semester, here are data sources for students... #econsky econbrowser.com/archives/202...

#FT and #Reuters covering our analysis of foreign official flows and US yileds: @ www.ft.com/content/7201... www.reuters.com/markets/rate...