| Working Paper |
File Downloads |
Abstract Views |
| Last month |
3 months |
12 months |
Total |
Last month |
3 months |
12 months |
Total |
| A Closer Look at the Federal Reserve’s Securities Lending Program |
0 |
0 |
3 |
58 |
1 |
4 |
35 |
158 |
| Advent of Trade Reporting for U.S. Treasury Securities |
0 |
0 |
1 |
6 |
1 |
1 |
10 |
31 |
| All-to-All Trading in the U.S. Treasury Market |
0 |
0 |
0 |
15 |
1 |
2 |
22 |
61 |
| An analysis of CDS transactions: implications for public reporting |
0 |
0 |
1 |
20 |
1 |
3 |
12 |
111 |
| An analysis of OTC interest rate derivatives transactions: implications for public reporting |
0 |
0 |
0 |
24 |
0 |
0 |
4 |
115 |
| Anomalous bidding in short-term Treasury bill auctions |
0 |
0 |
1 |
79 |
1 |
2 |
9 |
512 |
| Are larger Treasury issues more liquid? Evidence from bill reopenings |
0 |
0 |
0 |
158 |
0 |
2 |
15 |
880 |
| Assessing the Price Impact of Treasury Market Workups |
0 |
0 |
0 |
12 |
0 |
1 |
6 |
33 |
| At the N.Y. Fed: Workshop on the Risks of Wholesale Funding |
0 |
0 |
0 |
7 |
0 |
0 |
11 |
29 |
| Breaking Down TRACE Volumes Further |
0 |
0 |
0 |
4 |
0 |
0 |
8 |
28 |
| Breaking Down TRACE Volumes Further |
0 |
0 |
0 |
8 |
0 |
0 |
9 |
28 |
| Changes in the Returns to Market Making |
0 |
0 |
0 |
17 |
0 |
0 |
9 |
48 |
| Characterizing the Rising Settlement Fails in Seasoned Treasury Securities |
0 |
0 |
0 |
5 |
1 |
1 |
5 |
24 |
| Continuing the Conversation on Liquidity |
0 |
0 |
0 |
2 |
0 |
0 |
9 |
25 |
| Corporate Bond Market Liquidity Redux: More Price-Based Evidence |
0 |
0 |
2 |
24 |
0 |
0 |
18 |
43 |
| Creditor Recovery in Lehman’s Bankruptcy |
0 |
0 |
1 |
66 |
0 |
4 |
68 |
405 |
| Customer and Employee Losses in Lehman’s Bankruptcy |
0 |
0 |
1 |
4 |
0 |
0 |
9 |
28 |
| Dealer Balance Sheet Capacity and Market Liquidity during the 2013 Selloff in Fixed Income Markets |
0 |
0 |
0 |
33 |
0 |
0 |
5 |
110 |
| Dealer Balance Sheet Capacity and Market Liquidity during the 2013 Selloff in Fixed-Income Markets |
0 |
0 |
0 |
17 |
0 |
0 |
14 |
83 |
| Dealer Capacity and U.S. Treasury Market Functionality |
0 |
0 |
0 |
17 |
6 |
13 |
62 |
86 |
| Dealer Participation in the TSLF Options Program |
0 |
0 |
0 |
7 |
0 |
0 |
9 |
32 |
| Dealer Trading and Positioning in Floating Rate Notes |
0 |
0 |
0 |
15 |
0 |
1 |
10 |
32 |
| Dealer capacity and US Treasury market functionality |
0 |
1 |
1 |
6 |
3 |
11 |
47 |
70 |
| Dealer financial conditions and lender-of-last resort facilities |
0 |
0 |
0 |
56 |
0 |
1 |
16 |
228 |
| Dealers’ Positions and the Auction Cycle |
0 |
0 |
0 |
8 |
0 |
0 |
9 |
30 |
| Did Third Avenue's Liquidation Reduce Corporate Bond Market Liquidity? |
0 |
0 |
0 |
2 |
0 |
0 |
25 |
45 |
| Do You Know How Your Treasury Trades Are Cleared and Settled? |
0 |
0 |
0 |
10 |
0 |
0 |
11 |
46 |
| ECB Monetary Operations and the Interbank Repo Market |
0 |
0 |
1 |
34 |
1 |
3 |
21 |
149 |
| ECB monetary operations and the interbank repo market |
0 |
0 |
0 |
3 |
0 |
1 |
11 |
121 |
| End‑of‑Month Activity Across the Treasury Market |
0 |
0 |
4 |
4 |
0 |
70 |
82 |
82 |
| End‑of‑Month Liquidity in the Treasury Market |
0 |
0 |
1 |
7 |
0 |
0 |
11 |
19 |
| Failure Is No Longer a (Free) Option for Agency Debt and Mortgage-Backed Securities |
0 |
0 |
0 |
5 |
0 |
0 |
12 |
27 |
| Federal Reserve liquidity provision during the financial crisis of 2007-2009 |
0 |
1 |
1 |
61 |
0 |
1 |
9 |
136 |
| Financial market implications of the federal debt paydown |
0 |
0 |
0 |
89 |
0 |
0 |
12 |
557 |
| Has Liquidity Risk in the Corporate Bond Market Increased? |
0 |
0 |
0 |
23 |
0 |
0 |
11 |
65 |
| Has Liquidity Risk in the Treasury and Equity Markets Increased? |
0 |
0 |
0 |
18 |
0 |
0 |
25 |
59 |
| Has MBS Market Liquidity Deteriorated? |
0 |
0 |
0 |
18 |
0 |
0 |
8 |
29 |
| Has Treasury Market Liquidity Improved in 2024? |
0 |
0 |
0 |
8 |
0 |
1 |
8 |
18 |
| Has U.S. Treasury Market Liquidity Deteriorated? |
0 |
0 |
0 |
29 |
0 |
0 |
8 |
83 |
| Heat waves, meteor showers, and trading volume: an analysis of volatility spillovers in the U.S. Treasury market |
0 |
0 |
0 |
149 |
0 |
0 |
15 |
930 |
| Heat waves, meteor showers, and trading volume: an analysis of volatility spillovers in the U.S. Treasury market |
0 |
0 |
0 |
145 |
1 |
2 |
13 |
808 |
| How Does Tick Size Affect Treasury Market Quality? |
0 |
0 |
0 |
13 |
1 |
1 |
3 |
39 |
| How Does the Liquidity of New Treasury Securities Evolve? |
0 |
0 |
0 |
14 |
0 |
1 |
6 |
54 |
| How Has Treasury Market Liquidity Evolved in 2023? |
0 |
0 |
0 |
4 |
1 |
1 |
7 |
19 |
| How Has Treasury Market Liquidity Fared in 2025? |
0 |
0 |
11 |
11 |
0 |
2 |
67 |
67 |
| How Liquid Has the Treasury Market Been in 2022? |
0 |
0 |
0 |
17 |
0 |
2 |
19 |
48 |
| How Liquid Is the Inflation Swap Market? |
0 |
0 |
0 |
32 |
0 |
1 |
14 |
88 |
| How Liquid Is the New 20-Year Treasury Bond? |
0 |
0 |
0 |
20 |
1 |
8 |
42 |
131 |
| How Might Increased Transparency Affect the CDS Market? |
0 |
0 |
0 |
2 |
1 |
2 |
9 |
20 |
| How Much Value Was Destroyed by the Lehman Bankruptcy? |
0 |
0 |
0 |
7 |
1 |
2 |
19 |
56 |
| How do treasury dealers manage their positions? |
0 |
0 |
1 |
200 |
0 |
3 |
28 |
1,478 |
| How workers use 401(k) plans: the participation, contribution, and withdrawal decisions |
0 |
0 |
0 |
276 |
0 |
1 |
15 |
1,453 |
| Information on Dealer Activity in Specific Treasury Issues Now Available |
0 |
0 |
0 |
2 |
0 |
0 |
8 |
17 |
| Intraday Price Pressure and Order Flow Around U.S. Treasury Auctions |
0 |
0 |
10 |
10 |
2 |
5 |
19 |
19 |
| Intraday market making with overnight inventory costs |
0 |
0 |
0 |
30 |
1 |
2 |
13 |
148 |
| Introduction to a Series on Market Liquidity |
0 |
0 |
0 |
4 |
1 |
1 |
6 |
20 |
| Introduction to a Series on Market Liquidity: Part 2 |
0 |
0 |
0 |
2 |
0 |
0 |
5 |
16 |
| Is Treasury Market Liquidity Becoming More Concentrated |
0 |
0 |
0 |
14 |
0 |
1 |
6 |
27 |
| Lehman's Bankruptcy Expenses |
0 |
0 |
0 |
7 |
1 |
3 |
13 |
50 |
| Liquidity Fades as Treasuries Age |
0 |
2 |
2 |
2 |
2 |
12 |
12 |
12 |
| Liquidity and Trading Dynamics in the Off-the-Run U.S. Treasury Market |
0 |
0 |
5 |
5 |
1 |
10 |
29 |
29 |
| Liquidity and volatility in the U.S. treasury market |
0 |
0 |
0 |
128 |
1 |
5 |
21 |
378 |
| Market Liquidity after the Financial Crisis |
0 |
0 |
1 |
17 |
1 |
1 |
10 |
44 |
| Market Liquidity after the Financial Crisis |
0 |
0 |
0 |
50 |
0 |
1 |
19 |
116 |
| Market liquidity after the financial crisis |
0 |
0 |
1 |
164 |
1 |
4 |
28 |
321 |
| Measuring Settlement Fails |
0 |
0 |
1 |
10 |
0 |
2 |
14 |
48 |
| Measuring Treasury Market Depth |
1 |
2 |
2 |
18 |
3 |
8 |
17 |
33 |
| Measuring treasury market liquidity |
0 |
0 |
1 |
566 |
2 |
2 |
21 |
1,649 |
| New evidence on the effectiveness of the proxy mechanism |
0 |
0 |
0 |
77 |
1 |
2 |
20 |
708 |
| Options of Last Resort |
0 |
0 |
0 |
0 |
0 |
0 |
9 |
25 |
| Preserving firm value through exit: the case of voluntary liquidations |
0 |
0 |
0 |
75 |
1 |
2 |
12 |
389 |
| Price Impact of Trades and Orders in the U.S. Treasury Securities Market |
0 |
0 |
0 |
31 |
1 |
2 |
12 |
69 |
| Price and size discovery in financial markets: evidence from the U.S. Treasury securities market |
0 |
0 |
1 |
47 |
4 |
12 |
28 |
171 |
| Price formation and liquidity in the U.S. Treasury market: evidence from intraday patterns around announcements |
0 |
0 |
0 |
191 |
2 |
4 |
24 |
844 |
| Price formation and liquidity in the U.S. treasuries market: evidence from intraday patterns around announcements |
0 |
0 |
0 |
131 |
0 |
1 |
14 |
618 |
| Primary Dealer Participation in the Secondary U.S. Treasury Market |
1 |
1 |
1 |
21 |
2 |
58 |
77 |
122 |
| Primary Dealers’ Waning Role in Treasury Auctions |
0 |
0 |
0 |
14 |
0 |
1 |
13 |
41 |
| Redemption Risk of Bond Mutual Funds and Dealer Positioning |
0 |
0 |
0 |
20 |
1 |
1 |
16 |
72 |
| Repo Market Microstructure in Unusual Monetary Policy Conditions |
0 |
1 |
1 |
57 |
1 |
4 |
19 |
304 |
| Repo market effects of the Term Securities Lending Facility |
0 |
0 |
0 |
98 |
0 |
4 |
15 |
365 |
| Stripping STRIPs Trading Activity |
1 |
1 |
1 |
1 |
2 |
2 |
2 |
2 |
| The 2022 Spike in Corporate Security Settlement Fails |
0 |
0 |
1 |
13 |
0 |
0 |
34 |
55 |
| The Bond Market Selloff in Historical Perspective |
0 |
1 |
1 |
15 |
3 |
19 |
56 |
90 |
| The COVID-19 Pandemic and the Fed’s Response |
0 |
0 |
3 |
545 |
1 |
3 |
23 |
951 |
| The Evolution of Treasury Market Liquidity: Evidence from 30 Years of Limit Order Book Data |
0 |
0 |
1 |
74 |
0 |
13 |
38 |
445 |
| The Evolution of Workups in the U.S. Treasury Securities Market |
0 |
1 |
1 |
23 |
2 |
5 |
14 |
61 |
| The Failure Resolution of Lehman Brothers |
0 |
0 |
1 |
8 |
0 |
0 |
16 |
59 |
| The Federal Reserve’s Market Functioning Purchases |
0 |
0 |
0 |
16 |
0 |
1 |
41 |
56 |
| The Fed’s Treasury Purchase Prices During the Pandemic |
0 |
0 |
1 |
2 |
0 |
0 |
9 |
18 |
| The Impact of Trade Reporting on the Interest Rate Derivatives Market |
0 |
0 |
0 |
2 |
0 |
0 |
14 |
23 |
| The Indirect Costs of Lehman’s Bankruptcy |
0 |
0 |
0 |
7 |
0 |
2 |
12 |
35 |
| The Microstructure of China's Government Bond Market |
0 |
0 |
1 |
105 |
0 |
0 |
20 |
181 |
| The Microstructure of a U.S. Treasury ECN: The Brokertec Platform |
0 |
0 |
0 |
54 |
3 |
5 |
22 |
464 |
| The Netting Efficiencies of Marketwide Central Clearing |
0 |
0 |
1 |
33 |
0 |
3 |
17 |
88 |
| The Recent Bond Market Selloff in Historical Perspective |
0 |
0 |
0 |
12 |
0 |
0 |
8 |
60 |
| The SOMA Portfolio through Time |
0 |
0 |
1 |
12 |
1 |
3 |
14 |
95 |
| The microstructure of a U.S. Treasury ECN: the BrokerTec platform |
0 |
0 |
1 |
141 |
2 |
4 |
31 |
608 |
| The microstructure of the TIPS market |
0 |
0 |
0 |
29 |
0 |
2 |
20 |
169 |
| The term structure of announcement effects |
0 |
0 |
1 |
61 |
1 |
1 |
20 |
368 |
| The term structure of announcement effects |
0 |
0 |
0 |
345 |
1 |
2 |
16 |
1,476 |
| Tick Size, Competition for Liquidity Provision, and Price Discovery: Evidence from the U.S. Treasury Market |
0 |
0 |
0 |
24 |
3 |
3 |
27 |
102 |
| Trading activity in the Indian government bond market |
0 |
0 |
3 |
15 |
1 |
1 |
22 |
91 |
| Transparency and Sources of Information on the Federal Reserve’s Operations, Income, and Balance Sheet |
0 |
0 |
0 |
0 |
0 |
0 |
10 |
18 |
| Treasury Market Liquidity Since April 2025 |
0 |
0 |
15 |
15 |
1 |
27 |
51 |
51 |
| Treasury Market Liquidity and the Federal Reserve during the COVID-19 Pandemic |
0 |
0 |
2 |
198 |
1 |
4 |
24 |
501 |
| Treasury Market Liquidity during the COVID-19 Crisis |
0 |
0 |
4 |
372 |
1 |
4 |
55 |
864 |
| Treasury Market When-Issued Trading Activity |
1 |
2 |
7 |
120 |
2 |
20 |
123 |
725 |
| Treasury Trading at the Close |
0 |
0 |
0 |
0 |
1 |
1 |
1 |
1 |
| U.S. Treasury Market Action on Election Night 2016 |
0 |
0 |
0 |
16 |
0 |
4 |
11 |
42 |
| U.S. Treasury Market Functioning from the GFC to the Pandemic |
0 |
0 |
1 |
11 |
0 |
1 |
17 |
29 |
| US Treasury Market Functioning from the GFC to the Pandemic |
0 |
0 |
0 |
0 |
1 |
1 |
1 |
1 |
| Unlocking the Treasury Market through TRACE |
0 |
0 |
0 |
8 |
0 |
0 |
13 |
52 |
| Unlocking the Treasury Market through TRACE |
0 |
0 |
0 |
18 |
0 |
0 |
10 |
70 |
| What Explains the June Spike in Treasury Settlement Fails? |
0 |
0 |
0 |
4 |
0 |
0 |
11 |
28 |
| What if? A Counterfactual SOMA Portfolio |
0 |
0 |
0 |
2 |
0 |
0 |
4 |
17 |
| What moves the bond market? |
0 |
0 |
0 |
1,051 |
0 |
0 |
18 |
2,754 |
| What's Driving Dealer Balance Sheet Stagnation? |
0 |
0 |
0 |
19 |
0 |
0 |
7 |
46 |
| What’s behind the March Spike in Treasury Fails? |
0 |
0 |
1 |
4 |
0 |
1 |
10 |
33 |
| Which Dealers Borrowed from the Fed’s Lender-of-Last-Resort Facilities? |
0 |
0 |
0 |
37 |
0 |
0 |
12 |
86 |
| Total Working Papers |
4 |
13 |
104 |
7,072 |
78 |
428 |
2,296 |
27,327 |
| Journal Article |
File Downloads |
Abstract Views |
| Last month |
3 months |
12 months |
Total |
Last month |
3 months |
12 months |
Total |
| ANOMALOUS BIDDING IN SHORT‐TERM TREASURY BILL AUCTIONS* |
0 |
0 |
0 |
7 |
0 |
0 |
5 |
54 |
| All-to-All Trading in the U.S. Treasury Market |
0 |
1 |
2 |
2 |
0 |
1 |
22 |
30 |
| Are Larger Treasury Issues More Liquid? Evidence from Bill Reopenings |
0 |
0 |
0 |
0 |
0 |
2 |
24 |
325 |
| Are larger Treasury issues more liquid? Evidence from bill reopenings |
0 |
0 |
0 |
1 |
0 |
0 |
12 |
206 |
| Dealer behavior in the specials market for US Treasury securities |
0 |
0 |
3 |
230 |
0 |
5 |
20 |
614 |
| Dealer financial conditions and lender-of-last-resort facilities |
0 |
1 |
1 |
33 |
0 |
3 |
22 |
196 |
| Explaining settlement fails |
0 |
0 |
1 |
103 |
1 |
3 |
15 |
331 |
| Federal Reserve Liquidity Provision during the Financial Crisis of 2007–2009 |
0 |
0 |
0 |
22 |
0 |
1 |
12 |
138 |
| How Workers Use 401(K) Plans: The Participation, Contribution, and Withdrawal Decisions |
0 |
0 |
0 |
5 |
0 |
2 |
18 |
79 |
| How do Treasury dealers manage their positions? |
0 |
0 |
0 |
4 |
4 |
6 |
36 |
54 |
| Income effects of Federal Reserve liquidity facilities |
0 |
2 |
2 |
61 |
0 |
6 |
20 |
220 |
| Intraday market making with overnight inventory costs |
0 |
0 |
1 |
9 |
1 |
2 |
35 |
84 |
| Liquidity and volatility in the U.S. Treasury market |
0 |
0 |
1 |
35 |
1 |
1 |
15 |
132 |
| Market Liquidity After the Financial Crisis |
0 |
0 |
2 |
14 |
0 |
0 |
14 |
100 |
| Measuring treasury market liquidity |
0 |
0 |
2 |
494 |
3 |
6 |
34 |
1,622 |
| Price Formation and Liquidity in the U.S. Treasury Market: The Response to Public Information |
0 |
0 |
5 |
241 |
5 |
16 |
40 |
674 |
| Price and Size Discovery in Financial Markets: Evidence from the U.S. Treasury Securities Market |
0 |
0 |
0 |
6 |
0 |
1 |
13 |
47 |
| Repo Market Effects of the Term Securities Lending Facility |
0 |
0 |
0 |
68 |
0 |
2 |
17 |
260 |
| Repurchase agreements with negative interest rates |
0 |
0 |
0 |
234 |
0 |
0 |
8 |
780 |
| The Federal Reserve's foreign exchange swap lines |
0 |
0 |
0 |
79 |
2 |
3 |
32 |
314 |
| The Federal Reserve’s Market Functioning Purchases |
0 |
0 |
0 |
3 |
0 |
4 |
24 |
51 |
| The Term Securities Lending Facility: origin, design, and effects |
0 |
0 |
0 |
89 |
0 |
1 |
14 |
379 |
| The benchmark U.S. Treasury market: recent performance and possible alternatives |
0 |
0 |
1 |
183 |
0 |
1 |
21 |
875 |
| The failure resolution of Lehman Brothers |
0 |
0 |
0 |
44 |
1 |
2 |
47 |
220 |
| The microstructure of a U.S. Treasury ECN: The BrokerTec platform |
0 |
0 |
2 |
10 |
1 |
1 |
32 |
93 |
| The microstructure of the TIPS market |
0 |
0 |
1 |
19 |
0 |
1 |
13 |
126 |
| The round-the-clock market for U.S. Treasury securities |
0 |
0 |
0 |
139 |
1 |
2 |
13 |
712 |
| Tick Size, Competition for Liquidity Provision, and Price Discovery: Evidence from the U.S. Treasury Market |
0 |
0 |
4 |
8 |
0 |
1 |
27 |
39 |
| Trading activity and price transparency in the inflation swap market |
0 |
0 |
0 |
20 |
1 |
2 |
23 |
111 |
| US Treasury Market Functioning from the Global Financial Crisis to the Pandemic |
0 |
0 |
0 |
0 |
1 |
3 |
4 |
4 |
| What financing data reveal about dealer leverage |
0 |
0 |
0 |
115 |
0 |
0 |
13 |
361 |
| What moves the bond market? |
0 |
0 |
0 |
323 |
1 |
3 |
18 |
1,067 |
| When the back office moved to the front burner: settlement fails in the treasury market after 9/11 |
0 |
0 |
1 |
205 |
0 |
1 |
19 |
895 |
| Who buys Treasury securities at auction? |
0 |
0 |
0 |
90 |
0 |
7 |
22 |
385 |
| Total Journal Articles |
0 |
4 |
29 |
2,896 |
23 |
89 |
704 |
11,578 |
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