Review of 2023 Trading: Trade sizes falling – in parts…
Looking back at this year’s trading activity, through analysis of MarketAxess Trax data and TRACE for US markets, we can see clear patterns emerging...
Seize the opportunity to apply AI in quieter bond markets
Secondary credit trading is seeing lower volumes as expected in the summer months, whilst bid-ask spreads have plateaued across Europe and the US markets,...
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...
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 cost of European liquidity is falling, does e-trading beckon?
Good news for buy-side traders in European credit markets. Looking at MarketAxess Trax, which tracks trading across multiple markets and counterparties, bid-ask spreads are...
Get US high yield portfolios in order over summer
June looked decidedly challenging for US high yield (HY) trading, as mean bid-ask (BA) spreads dislocated from the median, indicating spikes in BA spreads...
Picturing uncertainty in a traditionally stable market
Trading numbers in secondary corporate bond markets appear to reflect anecdotal reports of volatility bursts, as political false starts impact the reading of major...
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...
Illiquidity creeps up in US credit… will e-trading save the day?
Looking at data on US credit markets, taken from MarketAxess Trax, which tracks trading across multiple markets and counterparties, investment grade trading volumes have been...
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...
