BlueBay flags danger of illiquidity in credit markets
The withdrawal of investment banks as market-makers could cause problems if bond investors rush for the exits amid QE tapering, but BlueBay sees continued flows.
UK fund house BlueBay has warned of structural illiquidity in the credit market caused by increasing regulation, fearing investors may face problems if they head to the exits as quantitative easing is wound down.
The fixed income credit specialist, which has $53.9 billion in assets under management globally, is no believer in the great rotation from fixed income into equities. Data shows net investment into both asset classes, mostly out of money-market funds rather than out fi…
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