Barnes-on-Bonds-Secondary

Summer heat subdues European activity

Activity in both European high yield (HY) and investment grade (IG) declined in the last week of July, with trade volumes falling to yearly...

European credit volumes plummet as US stays buoyant

European corporate bond markets have seen trading volumes and trade count collapse going into summer, as the holiday period provides some respite for tired...

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,...

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...

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...

Liquidity recovery continues in European investment grade

The careful return to pre-trade-war bid-ask spread levels continues in European credit markets, according to data from MarketAxess TraX, which assesses trading across multiple...

European liquidity costs remain high after April shock

Bond markets are beginning to settle on both sides of the Atlantic after the shock of Liberation Day and various amendments to tariff policies...

European bid-ask credit spreads not assuaged by tariff roll back

Liquidity costs in European corporate bond trading remain elevated, after the tariff shock in early April saw bid-ask spreads widen significantly across markets, according...