Bill Dudley, Columnist

The UK’s Bond-Market Mess Won’t Happen in the US

But the Federal Reserve should act to make the Treasury market more resilient.

October 26, 2022 at 9:00 AM UTC

Bill Dudley is a Bloomberg Opinion columnist. A former president of the Federal Reserve Bank of New York, he is a member of Coinbase Global's advisory council.

The US doesn’t have one of these.
Photo: Bloomberg

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The recent turmoil in the UK government bond market, which for a moment seemed on the brink of triggering a broader financial meltdown, has some people wondering: Could something similar happen in the much larger US Treasury market, with greater repercussions?

Unlikely. But US authorities can take steps to make such an outcome even more remote.