Quickly apply original, key PMR-published papers with Snapshots—a short article companion that distills PMR research into compressed, digestible takeaways, so you can put the paper’s core ideas to work in your investment process—fast. This Snapshot article is based on research arguing that a portfolio-based, exposure-controlled framework suggests liquidity risk premiums in US and European corporate bonds have generally declined since 2011, though they still spike in stress periods and remain higher in high-yield markets.
Derived from original PMR research written by Simon Polbennikov, Albert Desclée, Alberto Pellicioli, and Zornitsa Todorova using AI and an editor (2026) studied this question.