Corporate Bond Market Transparency
Speaking in 2005, SEC Chief Economist Chester S. Spatt offered the following opinion on the transparency of corporate bond markets:
Frankly, I find it surprising that there has been so little attention to pre-trade transparency in the design of the U.S. bond markets. While some might argue that this is a consequence of the degree of fragmentation in the bond market, I would point to options markets and European bond markets-which are similarly fragmented, but much more transparent on a pre-trade basis.
A combination of mathematical and regulatory initiatives are aimed at addressing pre-trade transparency in the U.S. corporate bond markets.
Read more about this topic: Corporate Bond
Famous quotes containing the words corporate, bond, market and/or transparency:
“If when a businessman speaks of minority employment, or air pollution, or poverty, he speaks in the language of a certified public accountant analyzing a corporate balance sheet, who is to know that he understands the human problems behind the statistical ones? If the businessman would stop talking like a computer printout or a page from the corporate annual report, other people would stop thinking he had a cash register for a heart. It is as simple as that—but that isn’t simple.”
—Louis B. Lundborg (1906–1981)
“The ideal of men and women sharing equally in parenting and working is a vision still. What would it be like if women and men were less different from each other, if our worlds were not so foreign? A male friend who shares daily parenting told me that he knows at his very core what his wife’s loving for their daughter feels like, and that this knowing creates a stronger bond between them.”
—Anonymous Mother. Ourselves and Our Children, by Boston Women’s Health Book Collective, ch. 6 (1978)
“Forbede us thing, and that desiren we;
Preesse on us faste, and thanne wol we flee.
With daunger oute we al oure chaffare:
Greet prees at market maketh dere ware,
And too greet chepe is holden at litel pris.”
—Geoffrey Chaucer (1340?–1400)
““End of tomorrow.
Don’t try to start the car or look deeper
Into the eternal wimpling of the sky: luster
On luster, transparency floated onto the topmost layer
Until the whole thing overflows like a silver
Wedding cake or Christmas tree, in a cascade of tears.””
—John Ashbery (b. 1927)