Bond Liquidity Falls 70% in Europe as Sales Soar: Credit Markets
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Bond dealers made money manager Gary Kirk’s job much more difficult when he tried to sell debt securities at the end of the first half. After they gave him “excuse after excuse” he gave up.
“It was way more difficult than it should have been,” according to TwentyFour Asset Management LLP’s Kirk, who said banks offered prices well below what he expected or said they no longer did business in the notes. “Extracting a bid out of anyone was very, very difficult.”