What A Difference Liquidity Makes

(DailyFX.com) - What a difference a week makes. Summer doldrums quickly disappeared as capital markets scrambled wildly to cope with the liquidity crisis unleashed by the BNP Paribas announcement that its was suspending redemptions in its asset backed funds. This was the third such move by a major financial player over the past few weeks, and while in the short term it may have been a prudent course of action for preservation of assets in the fund – the long term implications for capital markets of such arbitrary changes in policy could be disastrous.
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Going to say that I know what that means would be a lie, most of what you read up top is nothing more than a recap on some crappy financial move that somebody made in some company that no one cars about. Just kidding.