Brexit Bond Trades Mean Sell What You Can in Illiquid Market

  • Higher-rated junk debt leads selloff on easier trading
  • Riskiest company bonds fail to change hands, prices indicate

Brexit Pushes Stoxx 600 to Largest Decline Since 2008

Corporate-bond traders trying to navigate the fallout from Britain’s decision to leave the European Union collided with the reality of illiquid markets, leaving few bonds they could actually buy and sell.

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