BIG INVESTOR: The one thing markets have been fearing isn't actually going to happen

People have been getting bond market liquidity all wrong. That's according to Krishna Memani, the chief investment officer and head of fixed income at investment management firm OppenheimerFunds, which manages around $220 billion. For months, word on the Street has been that a liquidity crunch could be coming and that investors and traders would wind up selling bonds in an illiquid market, causing prices to plunge and interest rates to skyrocket. Everyone from JPMorgan chief Jamie Dimon to Black...