No. of Recommendations: 0
I think the wide spread is the result of both thin trading and also FINRA rules designed to suffocate liquidity. For example, I had a limit sell order at 78% of par open for two weeks on IB and it never appeared on the order book at all. FINRA forbid IB from posting my ask.

IB is the only broker I know about that puts in limit orders for bonds, at least for retail customers. Keep in mind that IB is driven by technology only. They have almost no customer service, and they won't hand hold a bond order for you. When their system works, it is fantastic. When it doesn't work, they have nothing but excuses. They also do not trade convertible bonds (a major deficiency for me).
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