Comment by: Anonymous. Posted 8 years ago [2015-05-28 14:40:09]

What's not mentioned here is that side effects of regulatory reform, in particular the Volker Rule, have killed liquidity in the secondary bond market. Customers I've spoken to, historically bond only AMs, pension funds, real money accounts, have sought out credit derivatives to access liquidity which has been stripped from the bond market. It's comical to see the folks who's namesake regulation's appear on CNBC and media outlets as though they are superstars. Dodd-Frank, EMIR, Volker, Basel III have not made the financial system more suspect characterized by higher costs and lower liquidity; not to mention how many jobs "regulatory reform" has eviscerated.