
The Bond Market: 1st Quarter 2020
Liquidity, liquidity, who’s got the liquidity?
Readers of somewhere around my years may remember playing the child’s game ‘button, button, who’s got the button?’, though it has its roots as far back as the late 1800s. In the game, only one child ends up with the button.
As for the Federal Reserve in the current economic crisis brought on by COVID-19, everyone gets liquidity.