A second cause lies in the fact that fixed-income assets – such as government, corporate, and emerging-market bonds – are not traded in more liquid exchanges, as stocks are. Instead, they are traded mostly over the counter in illiquid markets.
第二个原因是以下事实：固定收益资产——如政府、公司和新兴市场债券——不像股票那样在流动性较好的交易所中交易。相反，它们大多在流动性较差场外市场交易。