Surging issuance reflects confidence overcoming uncertainty
This year is shaping up to be a landmark year for corporate debt markets globally, with issuance running at record or near-record levels on...
How markets in ‘Trumpril’ 2026 compare with last year’s vol bout
The Trump administration’s love of shaking things up each April – and then backing off again in response to the apparently unexpected results –...
The broad-based return of risk appetite
Across almost every market spreads tightened over the past last week, looking at Morgan Stanley data, reflecting an apparently synchronised shift in investor sentiment.
When...
Data shows electronic trading has delivered resilience to US markets
The latest data from MarketAxess’s TraX data tool, which follows activity across multiple marketplaces, and its CP+ pricing tool, show that US markets, particularly...
Primary markets: Bonds hold up as syndicated loans markets lose momentum
Bond primary markets outperformed syndicated loans in the first quarter, with Dealogic rankings showing debt capital markets volumes rising across most major regions even...
IG and HY trade size trending back to pre-consolidated tape patterns
After converging sharply in January, average trade size in euro investment grade (IG) and high yield (HY) has begun to separate again, while bid-ask...
US and Middle East bond issuance separated by Iran war
The US markets saw a record day of issuance on 10 March, supported by the massive USD37 billion issued by Amazon, alongside a euro-denominated...
Bond markets see trading costs bounce
Average bid-ask spreads have been expanding and contracting like an accordion as investors and liquidity providers struggle to form a coherent view on inflation,...
Buy-side traders become invaluable during crisis
The Iran war is clearly visible in parts of corporate bond pricing and emerging market trade sizes, but other parts of the market appear...
Europe sees credit issuance crash on war turbulence
European investment grade issuance came in at €6 billion last week, according to Morgan Stanley data, with year-to-date (YTD) volumes tracking at €170 billion,...
