In 2025, 84% of the government’s debt issuance was made up of Treasury bills with maturities of 12 months or less, the highest ratio since the financial crisis. … READ MORE >
T-bills
Market Minute: Liquidity warning in the money markets
Money market funds have so far been willing to absorb the issuance of short-term Treasury bills. But how long can that condition hold? … READ MORE >
Monetary policy tightening, the bond market and the business cycle
Economic shocks including inflation, interest rate increases and energy market turmoil are hitting the global economy and showing up in fixed income markets. … READ MORE >