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The Great Liquidity Debate: Top Wall Street Traders Size Up the 2022 Fallout

Don’t blame bad liquidity for every ill in a year of central bank-spurred market fireworks.

In the telling of investors lashed by soaring interest rates and runaway inflation, Wall Street trading went from bad to worse this year -- all thanks to vanishing liquidity. Stock and bond markets are now supposedly so broken that money managers were unable to buy and sell in size without moving prices along the way, making the great 2022 selloff even worse.

Cue violent swings in everything from Treasuries and small-cap equities to commodities.