My latest Greenwich Research found that investors have seen a decline in dealer sourced liquidity, and that they’re concerned about it. It also found that more than expected are making prices in the bond market. It is very important to note, however, that price making is very different from market making. I explain in detail in the report – or just ask me. The difference is much more than the one word change implies. With that PSA behind us, here is coverage from the WSJ and my discussion with Bloomberg TV about the research: