{"id":27984,"date":"2015-02-26T20:03:35","date_gmt":"2015-02-27T01:03:35","guid":{"rendered":"http:\/\/prefblog.com\/?p=27984"},"modified":"2015-02-26T20:03:35","modified_gmt":"2015-02-27T01:03:35","slug":"rush-to-liquidity-leads-to-junk-sell-off","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=27984","title":{"rendered":"Rush to liquidity leads to junk sell-off"},"content":{"rendered":"<p>Andrew Allentuck was kind enough to quote me in his January, 2015, piece <a href=\"http:\/\/www.investmentexecutive.com\/-\/rush-to-liquidity-leads-to-junk-sell-off\">Rush to liquidity leads to junk sell-off<\/a>:<\/p>\n<blockquote><p>Given the higher level of risk caused by increased duration and the reduced liquidity caused by a bank&#8217;s need to cut holdings of dicey bonds, spreads between corporate bond prices and, especially, subinvestment-grade bonds are going to increase, says James Hymas, president of Hymas Investment Management Inc. in Toronto: &#8220;It is liquidity, not default risk, that is moving prices and yields in the junk debt market.&#8221;<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Andrew Allentuck was kind enough to quote me in his January, 2015, piece Rush to liquidity leads to junk sell-off: Given the higher level of risk caused by increased duration and the reduced liquidity caused &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19],"tags":[],"class_list":["post-27984","post","type-post","status-publish","format-standard","hentry","category-press-clippings"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/27984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27984"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/27984\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}