Analysing the split between US and EU investment grade trade sizes
Recent reports that high yield (HY) trades are increasing in size and investment grade (IG) are shrinking, have ignored the year-on-year growth of European...
Do Europe’s credit trading costs invert the pattern for US debt trades?
An analysis of average bid-ask spreads in corporate bond markets across the European and US markets suggests that median bid ask spreads responses are...
The US: Too big to Fitch?
Ratings agency Fitch has downgraded the United States’ long-term credit ratings to AA+ from AAA and removed the rating ‘Watch Negative’ stating “ reflects...
Less distressed debt
The risks of default in high yield credit are one reason cited for reduced sell-side trading activity in the asset class. However, while the...
Case Study
Axess IQTM: The eyes and ears of the market
Over the past twelve months, MarketAxess in partnership with Insigneo rolled out a pilot program to put...
High yield bond issuance relative to liquidity
A report by the Association for Financial Markets in Europe (AFME) has found that primary issuance of European high yield (HY) bonds in 2023...
Credit trades’ double-figure yearly growth proves liquidity dividend
The gradual growth in trade sizes for European corporate bond trades is made clear in the latest MarketAxess TraX data comparison for data from...
High yield issuance may bounce back
The data for Q1 bond issuance in European high yield (HY) markets shows that it fell 22.7% according to the Association for Financial Markets...
Is issuance for the high jump?
Data from CreditSights indicates the pace of US investment grade bond issuance fell from May, only to jump back in August, at a point...
Same trading costs, different year
The new year has seen trading volumes drop back to a similar level as seen in early January 2022, but in European credit, bid-ask...
