Bringing voices together to promote well functioning markets
Every Friday, we send you an email of top articles related to corporate bond market development. The newsletter is a free service.
All Posts By


Blackrock’s Richard Prager: The Liquidity Is Out There – Institutional Investor

  • CelticBond
    CelticBondJuly 23, 2016"Cougar, what I find interesting are the claims of all especially new Credit platforms regarding the 'liquidity' they have & posting increasing volumes. As you say just posting a price & some size does not that position a tradeable position. Having asked those I know at the main platforms their emplyees are doing a bang-up job in defending the bosses position in saying 'we are doing good & volumes are up!'. Wel maybe in IRS were the DOdds_Frank dictate says…"
  • Voodoo3
    Voodoo3March 22, 2016"‘Based on our own observations’ is the key to this paper. From there onwards there isn’t really much to add. It’s just an advert.…"
  • Jester
    JesterMarch 20, 2016"The punchline from this entire interview is: “based on our own observations” Yes, from a certain “observation” there is absolutely nothing wrong with the corporate bond market provided that: A) You are always a net buyer of bonds B) There is a consistently active calendar of new issue deals C) You consistently receive the lion’s share of allocations on new deals If that’s your world, then why complain? Just keep chuckling all the way to the bank….. Oh, one last thing.…"
  • Mustang
    MustangMarch 20, 2016""We don't believe there is a liquidity crisis whatsoever": Of course not. Well at least not today anyways. Blackrock sees an outsized share of the inflows and is also able to soak up its inflows with an outsized portion of new issues. Sure, maybe they can't access all the liquidity they need in secondary markets, but based on today's large primary flows, their liquidity needs are largely served. I also wonder if Blackrock traders told Richie to quit playing up the liq…"