Learning objectives: Compare and contrast market and funding liquidity and describe factors that have impacted by types of liquidity. Describe the regulatory and non-regulatory factors that have affected liquidity. Describe the link between market and funding liquidity. Examine the links between...
On this new topic study note page 12 regarding negative spread between IRS and Ties, it is written :"... unattractive for dealers to arbitrage away this dislocation."
Could you explain or reformulate the idea expressed here ?
I'm french ans I don't get what this sentence mean?