Most British banks deny that it is an especially "stressful" time for them - in the technical sense that, all but one to whom I've spoken in the past 24 hours insist they have the cash or liquidity they need right now.
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It may be that hot, fast money prefers liquidity to hard assets right now, especially if leverage is involved.
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We believe this strikes the right balance of maintaining liquidity necessary to ensure smooth operations of our company and deleveraging the balance sheet.
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But if Chandler and Glassman are right--that the liquidity surplus is mostly due to a global awakening--then the good times aren't over.
The financial writer Jim Grant once described liquidity as the expectation that everything will go right.
"The general liquidity trend does seem to be in the right direction, " says Carlton Poon, a strategist at Hong Kong investment firm World Sec.
"Management at Merrill Lynch is focusing on the right issues for the rating: liquidity, capital and derisking the balance sheet, " said Peter Nerby, senior vice president at Moody's.
"The scale and liquidity in Paris is good, and the timing might be right, " says Hideto Yamada, Mitsui Fudosan's managing director in Europe.
HedgeStreet admits its site right now is best for speculators, but its hedging viability will improve with liquidity.
Eventually, though, the Fed will get it right and start to soak up the economy's excess inflation-creating liquidity.
Now, the other investment that I really like right now, because so many of the world markets have gone up because of the incredible tsunami of liquidity that we and the rest of the world have provided is the Vanguard Total Stock Market portfolio.
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