The spread illusion: When tight pricing fails the pressure test
A tight spread looks unambiguous. It is visible, comparable, and easy to treat as a proxy for the quality of the trading environment. In a quiet session, it can be. But spread conditions during orderly markets describe a specific set of circumstances. They do not describe what happens when those circumstances change. The pressure test […] The post The spread illusion: When tight pricing fails the…
We haven't written up this one. Nairametrics has the full story — the link below goes straight to it.
