Fed's Jerome Powell is joined by William Dudley at a conference on the evolution of the US treasury market
There's been nothing on policy from either just yet
- Fed should not just consider average bond market liquidity but risk liquidity could disappear in a crisis
- Episodes like crash of Oct 15th erode investor confidence in bond markets and potentially affect government financing costs
Blah blah blah
Yellen is up at the top of the hour too but she's making "brief welcoming remarks" at an honor induction ceremony at the US department of laborzzzzzzzzzzzzzz
