Natixis’ Jesús Sáez speaks to El Confidencial on the pricing of fixed income bonds

Speaking to El Confidencial, Jesús Sáez, Natixis’ Head of Debt Capital Markets for Spain and Portugal, discusses the concern that there are disorderly asset sales aggravating a possible liquidity problem in fixed income bonds.

“What there is in pricing in fixed income in this current period and in the current circumstances is, among other things, lack of liquidity, without a doubt”, explains Sáez. “Because liquidity is not a variable that only has to do with the existent necessary funds, but it has to do with the possibility that a market agent finds possibilities to get hold of assets (offers) or get rid of assets (demands) with relative ease when he wants to make a decision to take a position or leave a position. And that does not exist now”, he adds.

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