Experience Stern | News & Events

Excerpt from Bloomberg View -- "Here are Stephen Cecchetti and Kermit Schoenholtz on liquidity. Their analysis includes the sentence 'We can separate claims about a loss of bond market liquidity into two fairly distinct categories: those about U.S. Treasury bonds and those regarding corporate bonds,' so I like them already. I feel like 90 percent of what I read about bond market liquidity treats Treasuries and corporates interchangeably, and as far as I can tell those markets have opposite liquidity problems (too much decentralized trading of Treasuries, too little of corporates)."

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