People are worried about bond liquidity.
We talked a little yesterday about BlackRock’s efforts to revive the credit-default swap market, and BlueMountain’s Jes Staley is sounding similar themes: Mr. Staley says that when he looks around for potential systemic threats to the financial system, this contraction in trading in credit-default swaps — derivatives that function like insurance for bonds and loans — coupled with an expanding supply of corporate bonds is something that he thinks is […]
