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1. How do single-price and multiple-price auction models work respectively? Please briefly explain why single-price auction model is better than multiple-price auction model in the

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1. How do single-price and multiple-price auction models work respectively? Please briefly explain why single-price auction model is better than multiple-price auction model in the Treasury security auction market. 2. What types of advantages or expertise should an investment bank have to be competitive in the corporate bond market? What different types of advantages or expertise should it have to be competitive in the Treasury bond market? Why? 3. What are the benefits and limitations of being a financial supermarket? Please explain briefly

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