Another Sign Liquidity Is Drying Up
As regulatory burdens have pared back the appetites of large banks and primary bond dealers in the “off-the-run” US Treasury market, bond liquidity has suffered and transaction costs, most notable in wider bid-ask spreads, have increased. Institutional investors in the $14 trillion government debt market are looking for alternatives, Greenwich Associates Kevin McPartland notes in a recent report.
As adjustments to . . .
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