- 11 References Adrian, Tobias, Michael Fleming, Daniel Stackman, and Erik Vogt (2015). “Has Liquidity Risk in the Treasury and Equity Markets Increased?” Federal Reserve Bank of New York, Liberty Street Economics (blog), October 6, http://libertystreeteconomics.newyorkfed.org/2015/10/has-liquidity-risk-in-thetreasury-and-equity-markets-increased.html. Bao, Jack, Maureen O’Hara, and Xing (Alex) Zhou (2016). “The Volcker Rule and Market-Making in Times of Stress,” working paper, September.
In his state of the nation address earlier this month, President Thabo Mbeki indicated that the government was set to embark on a programme of action, starting with the economy. The President noted the general consensus that we have established the necessary level of macroeconomic balance and stability, and have turned away from the precarious position we found ourselves in during 1994.