Refinancing debt: New bonds, old problem
A new paper from Bank of America’s credit strategist Neha Khoda and Adam Vogel has found that bond issuers are facing a significant increase in costs...
Craig McLeod: Exploring the new frontiers of EM trading
Today’s EM traders need more data, market access and broader liquidity than ever before to meet the investment profiles of their portfolios. Craig McLeod,...
EM traders ride out the chaos
It would be understandable if trading in emerging markets (EM) debt were becoming more expensive as risk increased in many markets it makes up,...
What banks’ primary success can tell us about their priorities in 2022
When looking at the revenues of investment banks in Q3 2021, using Greenwich Coalition data, we can see that secondary market trading in fixed...
Feeling the credit crunch in high yield trading
Trading costs for high yield bonds have been elevated on both sides of the Atlantic. The US saw a big jump in bid-ask spreads...
Prioritising investment on the high yield trading desk
When we look at the priorities of trading desks in developing more automated tools, we can consider the longer term market trends as a...
AFME update: European HY bond issuance fell nearly 60% year-on-year
A new report by AFME found that the primary high yield bond market decelerated significantly in Europe at the start of this year.
High yield...
EM stabilising could encourage market makers
Emerging market activity has seen a reduction in volatility in the first half of the year, with both volumes and pricing levels falling slightly,...
Upping strike rate and strength in US IG
We often hear ‘nothing really changes’ in relation to capital markets so it is good to have an insight into real progress, courtesy of...
Falling emerging market liquidity costs reversed with Fed concerns
Traders in hard currency fixed income emerging markets have seen a decline in the costs of liquidity this year, according to data from MarketAxess’s...
