Ever since the 1997 Asian financial crisis, liquidity in the secondary markets for investment-grade corporate securities has been drying up. And the stagnation seems set to continue. Investors with a newly enhanced appetite for credit risk are frustrated with banks that refuse to play ball, or that price liquidity risk in their spreads too cautiously.
Certain segments still perform: major telecoms such as France Télécom or Verizon; Ford, GM and the major autos; as well as some select
The week on Risk.net, March 10-16 2018Receive this by email