Poor liquidity irks even as credit worsens

26 Feb 2010

Even as two well-received new euro issues boosted bankers’ morale in a deflated corporate bond market, supply concerns persisted this week, with analysts and investors also predicting that few borrowers would be tempted to test the waters in the coming weeks.

But worries about primary issuance levels took a back seat for credit buyers. Many railed instead against the poor liquidity."Supply is not as much an issue as liquidity," said one London fixed income investor. "That’s something people are increasingly annoyed about, as the level of liquidity is poor. ...

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