Modifies a noun

• asset: In the manic phase, people of wealth or credit switch out of money or borrow to buy real or illiquid financial assets.

• paper: In order for savers to be indifferent between the two strategies, illiquid paper must offer a higher return than liquid paper.

• security: For illiquid securities, they would generally avoid re-use to ensure their availability for return.

• saving: Banks have in general offered only the traditional, illiquid savings account to poor people.

• investment: But property is an illiquid investment ( meaning it cannot be sold quickly ) and can involve high transaction costs.

• instrument: The relaxation of lending criteria in some markets and increased demand for illiquid instruments suggests that financial discipline may have weakened.

Modifying Another Word

• relatively: Relatively liquid assets fetch higher prices than relatively illiquid assets, for any given ( gross ) return.

• very: Unlike other assets, properties have to be managed and markets can be very illiquid, he says.

• potentially: It is significant that some market contacts have expressed misgiving about the present scale of demand for risky and potentially illiquid assets.

• seriously: He spent over £ 250,000 on litigation and on his death in 1859 was not insolvent but seriously illiquid.