High time for corporate bond action

Malfunctioning of Europe's markets makes the case for a proper retail corporate bond market even more compelling today than when Wayne Swan first announced it.

The most significant aspect of Wayne Swan’s announcement of the release of a discussion paper on reforms aimed at developing a proper retail corporate bond market today was actually announced a year ago.

Last December, among a rather motley collection of banking ‘reforms', Swan announced the federal government would facilitate the trading of Commonwealth government securities on a securities exchange. He did it again today.

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