The good news on high yield trading
Two weeks ago we noted that high yield markets have seen trade sizes increase since the start of the year, running counter to the...
High Yield did not get the ‘trade size’ memo
High yield trade sizes are continuing to rise in 2024, and its bonds continue to show signs of increasingly manual trading. As bond markets...
What EM trade sizes tell us about market evolution
While issuance of emerging markets bonds beat the same period in 2023 by a third, secondary trading is far more choppy, with a stepped...
A great vintage for bid-ask spreads
This year’s bid-ask spreads in US investment grade are half those of last year, prompting much celebration on the buy side, but clearly having...
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,...
Volumes drop off as Q1 ends, but liquidity still cheap
A broad decline of trading volumes across European & US corporate bond and emerging market debt trading coincided with end of the first quarter...
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...
What is driving down EM trading costs?
Analysis of trade size and bid-ask spread data from MarketAxess’s CP+ pricing feed and Trax market data, which tracks activity across markets, indicates that...
Emerging markets trading costs threaten to rise
Emerging market bond traders will see trading costs rising as volumes begin to decline. According to MarketAxess data from its CP+ pricing tool and...
Tighter spreads, bigger trades
Credit markets have largely seen tightening bid-ask spreads since the start of the year on both sides of the Atlantic – some segments more...
