S&P Liquidity Just Dropped To The Lowest On Record

Zero Hedge | 12/20/2018 | Staff
samtetley (Posted by) Level 3
Click For Photo: https://www.zerohedge.com/sites/default/files/styles/max_650x650/public/2018-12/goldman%20liquidity%20is%20bad.jpg?itok=UdJb2774

With stocks resuming their plunge, an old market bogeyman has emerged - the same one which Bill Blain said earlier scares him the most, namely the lack of liquidity. And unfortunately, in a perverse feedback loop, the more equities drop, the worse the overall S&P liquidity, as the following chart from Barclays show, depicting the collapsing bid/ask size in the Emini, which is now do to the lowest on record.

Don't believe Barclays? Here is Goldman showing the same median E-mini bid/ask depth, charted against the VIX:

Order - Emini - Toy - Feeling - Truth

But wait there's more: ever feel like the smallest order gets to push the Emini around like a toy? It's not just a feeling: it's the truth, because as shown below, not only is the...
(Excerpt) Read more at: Zero Hedge
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