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BlackRock Urges Changes in ‘Broken’ Corporate Bond Market

BlackRock Inc., the world’s biggest money manager, said the marketplace for corporate bonds is “broken” and in need of fixes to improve liquidity.

BlackRock, a major competitor in the bond market with $4.3 trillion in client assets, urged changes including unseating banks as the primary middlemen in the market and shifting transactions to electronic markets. Another solution BlackRock proposed: reducing the complexity of the bond market by encouraging corporations to issue debt with more standardized terms.