Here are a few reasons: First, one year on, there have been a few noteworthy liquidity “events” in the bond market, including the awkwardly named “Flash Rally” in US Treasuries on 15 October 2014, the day after I gave the speech last year.
Second, the much anticipated first increase in the Fed funds rate has been designated as a critical test case of the state of liquidity in the bond market. Third, while equity markets experienced a volatile month in August, bond markets were, somewhat surprisingly, relatively stable (as for that matter, were major foreign exchange rates).