Eye-Opening Stat on the Credit Crunch

There is an eye-opening statistic on the credit crunch in a report last week from Greenwich Associates:

“In perhaps the clearest indication of the severity and extent of the liquidity disruption, more than 60% of participants active in corporate bonds say they have experienced trouble getting a simple price quote from dealers on these usually liquid products,” says Greenwich Associates consultant Tim Sangston.

Sixty percent of corporate bond investors have had trouble recently getting a bond quote? That is remarkable.

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  1. 2L says:

    It was remarkable to me, until I found out that most corporate bonds don’t trade regularly:
    “According to TRACE, which is a system for tracking corporate bond trading, about 4,300 TRACE eligible corporate issues trade each day. That’s less than 3% of the total corporate universe.”