Credit market freezes in which debt issuance declines dramatically and market liquidity evaporates are typically … bonds declined, and secondary credit markets became highly illiquid. In this paper we analyze liquidity in bond markets … during financial crises and compare two main theories of liquidity in markets: (1) asymmetric information and adverse …

Price-based liquidity metrics are better in 2013-2014 for small trades and large high-yield bond trades, but not for … relative to 2010-2012. This evidence contrasts with the widely-held view among practitioners that liquidity has worsened …-crisis liquidity could be low when markets are stressed. We consider three stress events: extreme VIX increases, extreme bond yield …

-Wicksellian model and then adds banks and a role for bonds in the liquidity management of households and banks. The Banks and Bonds …

We propose a novel measure of bond market liquidity that does not depend on transaction data: the strength of the cross … portfolio holdings to be at a given point in time. The perceived liquidity of speculative grade and Rule 144A bonds is …

quality and liquidity in international equity markets, but mainly a flight-to-quality in the US corporate bond market …

, ceteris paribus, corporate bonds held by investors with high exposure to securitized bonds and liquidity needs experience … model of dynamic asset liquidation: Investors with large enough future liquidity shocks retain liquid assets, and instead …, these funds did not sell securitized bonds on average and instead sold corporate bonds to meet their liquidity needs. Sales …