Dealers report liquidity still 'patchy'
Dealers note liquidity continues to be patchy, with lapses reflecting the underlying market conditions. On Monday afternoon, the US Congress rejection of the $700 billion bail-out plan sent the Dow spiralling down 778 points - the biggest fall in its 112-year history.
"The pricing and liquidity was particularly tough that afternoon. We kept prices out there, but they have to reflect the underlying liquidity," said one dealer in London.
He added liquidity was also affected by quarter-end on
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