Quotes of the month

“The primary market has become our liquidity window, offering almost the only chance to put money to work in size. In the US high-grade market we started to see new issues coming through secondary trading levels last year. The primary market is no longer about gaining premium, it’s more about achieving your fill and getting a large quantity of money invested” Juan Landazabal of Deutsche Asset and Wealth Management explains how lack of liquidity in bond markets is driving the order frenzy in new issues 

“I saw dead people at Maidan. I took them in my arms, I closed the eyes of the dead with my own fingers. Even today, these memories hurt me and I have dreams about it every night”