Janus White Paper


April 2013  
Heed the Warning Signs: Credit Market Liquidity Crisis on the Horizon? Janus

We have been warning clients for over a year now about increasingly illiquid conditions in corporate credit markets. We believe a liquidity crisis is coming, and that few investors are prepared for the large price gaps and subsequent volatility likely to result from massive exchange-traded funds selling in an illiquid market. That said, we also see opportunity for strategic long-term investors who might be in a position to provide liquidity when other market participants are desperate for it.

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