Yesha is the Professor of Law and Associate Dean at Vanderbilt University. Her research interests lie in financial market regulation, securities regulation and corporate bankruptcy, focusing on market structure, exchange design, payments, digital asset regulation, distressed debt, and restructuring. Yesha has developed particular specialization in market microstructure, examining the regulation of trading ecosystems for various asset classes, notably, equity, U.S. Treasuries, corporate bonds, and cryptocurrencies.
U.S. Treasurys are the safest asset anywhere, even in the case of default. And so that’s the reason why we saw this really paradoxical situation.
The $24 trillion Treasury bond market plays an important role in the global financial system. Is there any viable alternative?