Market Quality Comparison of Equity Market vs. Corp Bond Market

Market Liquidity --Corp bonds market is OTC --Corp bonds market has a wide array of securities --Corp bonds bid-ask spread is much wider --Corp bonds market has limited number of partitcipatents Information --Corp bonds market instranparent due to limited pricing information what is liquidity market --narrow bid-ask spread --high market depth: large orders have no effect in security prices --resilient: small deviation from instrinsic value Obviously, corp bond is not liquid.