A $3.8 trillion fund-management giant has a fix for the bond market

Vanguard, the asset management giant with $3.8 trillion under its belt, has a few things to say about the bond market.
The fund manager just published commentary on "innovation and evolution in the fixed income market," looking at trends in bond liquidity and trading.
You'll recall, falling liquidity in the bond market is a problem that traders have been crying about for a while now. The argument is that it makes trading in large sizes harder, and bond prices more volatile. 
But V