What Happens When The World’s Most ‘Liquid’ Bond Market Is Taken Hostage By “Malfunctioning Algos”
by Tyler Durden
ZeroHedge.com
04/13/2015
“In some instances, malfunctioning algorithms have interfered with market functioning, inundating trading venues with message traffic or creating sharp, short-lived spikes in prices as a result of other algorithms responding to the initial erroneous order flow.”… “If liquidity is as bad as it is now, what’s going to happen when things really get adverse?” said Richard Schlanger, who co-manages about $30 billion in bonds as vice president at Pioneer Investments in Boston.
The Rest…HERE
