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BlackRock’s Latest Fix for Bond Trading Is Circumventing Banks

relates to BlackRock’s Latest Fix for Bond Trading Is Circumventing Banks
Photographer: Craig Warga/Bloomberg

BlackRock Inc. is muscling into trading venues that had long been the exclusive territory of big banks as the world’s biggest asset manager seeks to make up for declining liquidity in the bond market.

BlackRock revealed last week that it’s now trading bonds directly with inter-dealer brokers, following years of warning that liquidity is waning. In September, BlackRock said the corporate bond market is “broken.”