Yesha Yadav is a law professor and associate dean at the Vanderbilt University Law School, where she works on banking and financial regulation, securities regulation, and the law of money and payment system. Yesha has written a recent paper titled, *The Failed Regulation of US Treasury Markets*, and she joins Macro Musings to discuss it. Specifically, David and Yesha talk about the implications of the 2020 Treasury market collapse, the fragmented nature of the Treasury market’s regulatory structure, solutions for reform, and more.   Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   Yesha’s Vanderbilt Law profile: https://law.vanderbilt.edu/bio/yesha-yadav Yesha’s Google Scholar archive: https://scholar.google.com/citations?user=Dn5cmSQAAAAJ&hl=en   Related Links:   *The Failed Regulation of U.S. Treasury Markets* by Yesha Yadav https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3365829   *Fragile Financial Regulation* by Pradeep Yadav and Yesha Yadav https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3685404   David’s Twitter: @DavidBeckworth David’s blog: http://macromarketmusings.blogspot.com/