Burne’s Take: Market Liquidity Is in the Eye of the Beholder

The latest chance to debate the impact of postcrisis rules comes Sunday at an Atlanta Fed gathering in Florida

Bond trading hasn’t been the same since the credit markets seized up in 2008.

Traders blame postcrisis rules that have changed how they allocate capital. Regulators say they’re comfortable with slightly bumpier trading if overhauls have made banks, and by extension the U.S. economy, meaningfully safer.