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After the Accord from Part I - The System and the Market in the 1940s
Published online by Cambridge University Press: 14 January 2021
Describes the infrastructure of the Treasury market on the eve of the Accord, including the gradual, not yet completed, suspension of wartime ceilings on Treasury yields, methods for selling securities in the primary market (regular and predictable bill auctions versus fixed-price cash and exchange offerings of coupon-bearing debt), and the role of dealers in secondary market trading.
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