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...
Can you guess which market has seen the greatest fall in bid-ask spreads, year-to-date?
Two weeks ago, we asked what was crushing the US investment grade (IG) market’s bid-ask spread. However there has been an even greater reduction...
Why are European IG Bid-Ask spreads widening?
Liquidity in the European corporate bond market is becoming more expensive in both high yield (HY) and investment grade (IG) trading. According to MarketAxess...
New issuance drives up secondary selling
News that high yield (HY) issuance has fallen in Europe may be of little consolation to investment grade investors, as new data from MarketAxess...
Analysis of US yields in 2021 and anticipation for next year
Yields for US high yield bonds have turned a corner, according to MarketAxess data, following a drop from 3.65% in April down to 3.065%...
Liquidity costs ticking up as the heat rises
Summer is seeing the cost of trading in fixed income markets begin to tick up again, as bid ask spreads begin to widen, according...
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...
EM stabilising could encourage market makers
Emerging market activity has seen a reduction in volatility in the first half of the year, with both volumes and pricing levels falling slightly,...
BOB Secondary: US Credit has never had it so good
Liquidity in US credit has improved significantly over the past year, with bid-ask spreads lower than any point in 2022, according to MarketAxess’s CP+...
The implication of Europe’s falling volumes
An ominous sign in Europe’s secondary markets for dealers, as volumes remain in the doldrums.
Anecdotally, buy-side firms report volumes are up to 20%...
