Barnes-on-Bonds

Measuring digital bond issuance

The use of distributed ledger technology (DLT) to issue bonds can tackle several concerns in the debt markets. Firstly, it reduces the fragmented information...

Substantially higher US investment grade stress going into 2023

The Federal Reserve Bank of New York’s Corporate Bond Market Distress Index (CMDI) is closing 2022 with investment grade US bond markets twice as distressed as...

Review of 2023 Trading: Trade sizes falling – in parts…

Looking back at this year’s trading activity, through analysis of MarketAxess Trax data and TRACE for US markets, we can see clear patterns emerging...

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,...

Excited or scared? The liquidity rollercoaster

Bid-ask spreads across all credit markets shot up in the week of 7 April, following the announcement of global tariffs on imports to the...

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...

The cost of liquidity in EM today

A very graphic representation of the cost of liquidity can be seen in the latest data from MarketAxess. It shows that average daily volume...

Analysing concern around Japan’s government bond issuance and interdealer inefficiency

The appointment of Liberal Democratic Party (LDP) leader Sanae Takaichi as the country’s first female prime minister has drawn comparisons with two of the...

Enhanced execution through automation

Andrew Cameron, Automation Solutions at MarketAxess, discusses the benefits of automation in trading. Automation technologies have revolutionised so many aspects of our lives that it’s...