FAST FIVE: Trader Warns Of "Misleading Signals" In Illiquid Markets "Where Selling Isn't Viable"

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I'll bet you could sell “your amount” of bonds without moving things much at all.

It worked fine when things were going well.

But there was no precaution laid on for rough patches.

When this happens on the scale and breadth possible here, it can have all sorts of other distorting effects that will need to be taken into consideration when investing.

Many observers took the resulting directional moves that occurred as implying some fundamental analysis that simply didn't exist.

Categories: ZH