The Bond World's Most Elite Club Isn't What It Used to Be

The video discusses the challenges faced by primary dealers due to increased regulations, competition from high-frequency trading, and changes in the Treasury market. It explores the debate on whether these market evolutions benefit consumers and highlights Wells Fargo's strategy in becoming a primary dealer. The video also examines trends in primary dealership and the potential decline in its advantages.

What role do central banks play in the changing marketplace for primary dealers?

Why did Wells Fargo decide to become a primary dealer, and what advantages did it seek?