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...
What’s up EM?
Emerging market volumes have jumped in September, hitting levels not seen since April 2025, when the US trade taxes on imported goods from every...
Is Europe being punished for slower e-trading adoption?
The liquidity shortfall, expected at the end of the year, is traditionally triggered by dealers’ reluctance to make markets when their risk positions are...
What is driving down EM trading costs?
Analysis of trade size and bid-ask spread data from MarketAxess’s CP+ pricing feed and Trax market data, which tracks activity across markets, indicates that...
Not average: Trade sizes in 2024
Looking at the average trade sizes for high yield and investment grade bonds, across Europe and the US in 2024, we can see considerable...
Tighter spreads, bigger trades
Credit markets have largely seen tightening bid-ask spreads since the start of the year on both sides of the Atlantic – some segments more...
US Credit: Liquidity costs trending down
The bid-ask spread in US high yield trading is falling again having suffered an uptick in December, according to MarketAxess Trax, which tracks trading...
Volumes drop off as Q1 ends, but liquidity still cheap
A broad decline of trading volumes across European & US corporate bond and emerging market debt trading coincided with end of the first quarter...
Juggling the growth in CUSIPs
If the population of a country increased by 50% since 2014, you would think a housing crisis was likely.
Yet in the year The DESK...
The cost of European liquidity is falling, does e-trading beckon?
Good news for buy-side traders in European credit markets. Looking at MarketAxess Trax, which tracks trading across multiple markets and counterparties, bid-ask spreads are...
