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...
Is European credit electronification bouncing back?
There has been a noted proportional increase in electronification of US credit trading, as tracked by Coalition Greenwich. However, metrics around European trading found...
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 Loan Lowdown: Volatility’s impact on Leveraged Loans
Howard Cohen, Head of Leveraged Loans at MarketAxess.
Since early April, the leveraged loan market has trended in one direction. Risk assets have continued to...
What is crushing the bid-ask spread in US IG?
The bid-ask spread in US investment grade credit has been falling this year, regardless of the trading volume activity.
Notional traded in the US...
Control is the best defence
By Chris Roberts | 29 May 2024
With a growing level of scrutiny coming from European Regulatory bodies about the quality of data reporting, firms...
Second quarter issuance recovers after soft April and May
Morgan Stanley has reported that June issuance increased 13% year-on-year (YoY) following a 34% drop in April and 3% decline in May.
“Strong June issuance...
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...
This! Is! What! Liquidity! Looks! Like!
In the past quarter, the average daily notional traded for US Treasuries was 99.5% of the total value of securities issued in the same...
European investment grade seeing smaller, cheaper trades
European investment grade bond traders are seeing a falling bid-ask spread, and a rising trade count since the start of 2024, according to MarketAxess’s...
