There's something surreal going on in the market

There's something surreal going on in the market.
The bond market has exploded in size, and yet market-makers — firms charged with making sure buyers and sellers can get the trades they need — are holding fewer bonds on their balance sheet, which makes life difficult for investors looking to make big trades.
That means that liquidity, or the ease with which investors can buy and sell positions, has deteriorated. 
And it has now gotten so bad that liquidity in the credit market