Liberty Street Economics: Did Dealers Fail to Make Markets during the Pandemic?

F E D E R A L   R E S E R V E   B A N K   o f   N E W  Y O R K LIBERTY STREET ECONOMICS   Did Dealers Fail to Make Markets during the Pandemic?   Jiakai Chen, Haoyang Liu, David Rubio, Asani Sarkar, and Zhaogang Song In March 2020, at the onset of the COVID-19 pandemic, the ability of dealers to maintain liquid conditions in a range of financial markets was questioned. Reflecting these concerns, authorities took numerous steps, including providing regulatory relief. The authors examine liquidity provision by dealers in several financial markets during the pandemic: how much was provided, possible causes of any shortfalls, and the effects of the Federal Reserve's actions.   READ MORE

 

 

 

 

 

 

 

 

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