Indeed, one of the best financial market commentators, Matt Levine, devotes a section of his column to “people are worried about bond market liquidity”. 1 Notwithstanding the fact that his column is published daily, he has little problem in finding material to write about on this issue.
So today, I would like to provide Matt Levine with some more material and throw my hat into this crowded ring. Though not for the first time, as about a year ago I talked about this very issue. 2 So why revisit this issue again today?