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Entry and Exit in Treasury Auctions

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NBER2026-01-01 更新2026-01-10 收录
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https://www.nber.org/papers/w34646
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Hedge funds have become increasingly active in Treasury markets, yet we have little evidence on how this shift has affected the market. We focus on the primary market, where the government issues its debt through auctions. Using over 20 years of data from Canadian Treasury auctions, we document
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2026-01-01
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