The ETF liquidity mirage
Are investors making a huge mistake in thinking ETFs are somehow more liquid than their underlying investments?
“Wall Street Turns to ETFs to Sidestep Illiquidity in Bond Market” ran a recent Bloomberg headline. Because the ability to trade individual bonds is degrading, the story reported, investors are piling record dollars into global bond ETFs.
Hmmm. So Wall Street, in its wonderful way, has invented
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