This page is dedicated to research articles with secondary market data provided by MarketAxess. For further information please contact Dan Barnes.
Home ‘BoB’ – Barnes on Bonds
‘BoB’ – Barnes on Bonds
SECONDARY MARKETS
Why high yield dealer relationships are (potentially) more valuable
It is no surprise that trading costs are higher in high yield (HY) markets, but data from MarketAxess TraX, which measure activity across bond markets and its CP+ pricing tool, show that the volatility...
US activity up, European down, but bid-ask spreads are tight all over
As we move into summer of 2026, central bank activity is strikingly different from where markets started the year, and it is directly legible in the trading data.
The Fed kept the federal funds rate...
PRIMARY MARKETS
European high yield bond issuance slows in Q1
The latest report by the Association for Financial Markets in Europe (AFME) on European leveraged finance, primary high yield (HY) bond issuance fell sharply in the opening quarter of 2026, with total activity declining...
Will ‘reverse Yankee’ and ‘reverse Cockney’ issuance boost Euro primary markets?
Although Europe has seen lower-than-expected issuance volumes, according to sell-side analysts, there are positive moves into euro issuance, such as those by US fimrs, the ‘reverse Yankee’ and potentially by UK firms if political...
