new york fed president john williams speaking at the 2022 us treasury market conference on wednesday said that a wellfunctioning treasury market is critical for the us economy and the world he also said that price stability is a musthave for the central bank and that the treasury market is at the center of it all so the time is now to find ways to strengthen core parts of financial system his remarks suggest the treasury market needs to be buttressed and came as bond investors flashed deeper worry about the economic outlook with the spread between 2 bxtmubmusd02y and 10year treasury yields bxtmubmusd10y shrinking to as little as 64 basis points as of wednesday morning