Rowan states that selling an investment grade public corporate bond now takes five days due to liquidity issues.
“By recent measures, it would take you five days to sell an investment grade public corporate bond today because there is no liquidity.”
Rowan predicts that within a year, public and private markets will become indistinguishable from each other.
“I will predict that a year from now, you will not be able to tell the difference between public and private.”