• Dallas Federal Reserve President Lorie Logan said on Friday the U.S. government bond market remains vulnerable to significant shocks that could cause broader damage, adding that government authorities must push ahead with efforts to shore up the financial system.
• “The U.S. financial system has become increasingly vulnerable to core market dysfunction because the supply of intermediation has not kept pace with demand as the Treasury market’s size and complexity have grown,” Logan said in the text of a speech to a University of Chicago Booth School of Business event.