Bid-ask spreads see double-digit tightening in early 2025
Analysis of MarketAxess’s CP+ data, which analyses composite trading costs based on traded bonds, has found that bid-ask-spreads have tightened by double digit percentages...
US markets seeing risk implied in bid-ask spread
While US stock markets are in turmoil, US investment grade bond markets are also reflecting the greater uncertainty caused by an erratic approach to...
Emerging markets see liquidity costs decline
The cost of liquidity in emerging markets appears to be falling for fixed income traders. Looking at MarketAxess’s CP+ consolidated price feed, and cross-referencing...
Dealer engagement in multi-dealer platforms is growing
Sell-side firms appear to be increasing their engagement with corporate bond trading platforms. The narrative of increased bilateral trading between dealers and clients...
TRACE recalibration exposes double counting
An adjustment to bond trade reporting to TRACE, the US post-trade reporting tape for fixed income, has cut the volume of trades arranged via...
Squeezing the bid-ask spread
Bid-ask spreads in the corporate bond space have continued to collapse in 2025, suggesting that liquidity costs are dramatically improving for buy-side traders.
Looking at...
Reviewing 2022: European credit trading costs have doubled
There have been an enormous number of factors shaking up bond trading this year. From fixed income fundamentals like rapidly rising interest rates from...
Bid-ask spreads drop 25% on average in many markets
The cost of liquidity as measured by the bid-ask spread in bond trading has fallen by approximately 25% since the start of the year,...
All I want for Christmas, is trading analytics
Traders would do well to run close analysis over their European trading activity this month, as data from MarketAxess Trax, which tracks trading across...
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...
