Monetary policy, record new fixed income issuance, and financial regulatory reform have contributed to reduced dealer inventories and lower bond turnover. As we observe the global dialogue about “liquidity”, the term is often used as a catch-all phrase for several concepts, which has created confusion and led to the conflation of distinct issues.

We have assembled perspectives on liquidity from across BlackRock focusing on:

The current environment related to liquidity in fixed income markets


How the market has adapted post-crisis


Recommendations on how to improve the market ecosystem going forward

Kashif Riaz, Managing Director, focuses on the Investment Grade Debt Market as a member of the Global Capital Markets team within BlackRock's Fixed Income Portfolio Management Group.
Prior to joining BlackRock in 2010, Mr. Riaz spent over 12 years at J.P. Morgan. Most recently, he was an Executive Director in the Investment Banking group covering the pharmaceutical and biotechnology sectors. He has extensive experience executing M&A transactions, acquisition financings, and IPOs. Mr. Riaz previously worked in J.P. Morgan's investment grade Debt Capital Markets group for six years, arranging bond offerings for clients across a range of sectors, including energy, metals & mining, healthcare, and consumer products. He also worked with J.P. Morgan's LabMorgan team on the development of internet tools for fixed income clients.
Mr. Riaz received an MBA from Columbia University in 2005 and a BS from the Massachusetts Institute of Technology in 1998.