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Home ‘BoB’ – Barnes on Bonds
‘BoB’ – Barnes on Bonds
SECONDARY MARKETS
Electronification of US credit delivers resilience
The electronification of the US corporate bond markets has demonstrated that its improved efficiency has strengthened depth of liquidity provision, rather than made it fragile.
Analysis of data from MarketAxess’s TraX data service, which follows...
Liquidity recovery continues in European investment grade
The careful return to pre-trade-war bid-ask spread levels continues in European credit markets, according to data from MarketAxess TraX, which assesses trading across multiple markets.
In European investment grade (IG) median bid-ask spreads also blew...
PRIMARY MARKETS
European govies issued at record level in Q1
This year saw the highest first-quarter European government bonds and bills issuance volume since 2006 as €1.2 trillion was issued in Q1 2025, according to the Association for Financial Markets in Europe (AFME).
Total quarterly...
Primary held in check by tariff and rate uncertainty
Gross credit issuance has fallen in developed markets, according to data from Dealogic and Morgan Stanley, across investment grade (IG) and high yield (HY).
DM gross issuance was 12% lower in IG and 28% lower...
