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Cheap money turns into liquidity trap
Abundance of cash has made it harder for investors to sell their financial assets without triggering wild price swings
Add BT as a preferred sourcePublished Sun, May 17, 2015 · 09:50 PM
London
INVESTORS used to thinking that vast quantities of cheap central bank money make financial assets a one-way bet have had a rude awakening in recent weeks, as that same conventional wisdom created frailties in the functioning of markets.
The latest correction may look little more than a blip in an eight-year rally. But it has exposed a painful truth about an essential issue - liquidity.
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