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Us Treasury Securities Market: Recent Evolutions, Short And Medium Term Prospects

Author

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  • Oehler Sincai, Iulia Monica

    (Institute of World Economy, Romanian Academy)

Abstract

The present paper brings to the forefront the recent evolutions on the US treasury securities market, under the impact of the global financial and economic crisis and its short and medium term perspectives. The study is based on the US Treasury statistics and the empiric evidence of the previous literature, and is structured in four sections. The first one underlines the evolution of the structure of the factors that generated such developments. The second section underscores, on the one side, the main foreign investors in marketable securities and their behaviour, and on the other side, points to the fact that the official data should be interpreted cautiously, as they do not necessarily reflect an objective reality. The third section analyses the slope of the treasury yield curve in time and its determinants, while the fourth outlines the short and medium term perspectives of the US treasury securities market, taking into account the influence of the global recovery and the deepening of the American fiscal deficit on the investors’ behaviour and, consequently, on the treasury yields.

Suggested Citation

  • Oehler Sincai, Iulia Monica, 2010. "Us Treasury Securities Market: Recent Evolutions, Short And Medium Term Prospects," Studii Financiare (Financial Studies), Centre of Financial and Monetary Research "Victor Slavescu", vol. 14(1), pages 150-165.
  • Handle: RePEc:vls:finstu:v:14:y:2010:i:1:p:150-165
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    References listed on IDEAS

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    1. Jean Pisani-Ferry & Adam Posen, . "The euro at ten: the next global currency?," Books, Bruegel, number 303.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    US treasury securities; marketable securities; foreign investors; treasury yield curve;

    JEL classification:

    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates
    • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
    • O51 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - U.S.; Canada

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