The high impact of low volumes in Q2
Volumes in US investment grade (IG) bonds have fallen significantly in the second quarter of this year compared with the same period in 2020....
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...
Barnes on Bonds: Secondary Gilt Trip
To look at the whipsaw effect of the UK’s 23 September mini-budget on secondary UK bond trading, we have taken data from MarketAxess TraX,...
The beginning of the end (of liquidity provision)?
Bid ask spreads are widening in US investment grade credit, according to MarketAxess’s CP+ data, which may signal the traditional end-of-year withdrawal of dealer...
Splinters of a market
While liquidity in US investment grade (IG) markets has been holding up relatively well, MarketAxess data shows us that the past month has seen...
Emerging Markets Focus Part 2: Illiquidity in numbers
When investment flows are heavily directional it can make trading more challenging, as most investment firms are selling into a downward market or buying...
Does this year start with the smallest trades ever?
Trading activity in European bond markets at the start of 2024 has had the highest trade count of the past three years by some...
What is behind the falling cost of IG liquidity?
The bid-ask spreads in credit trading across the Europe and US have fallen dramatically in the first three weeks of 2024, relative to the...
What volatility looks like
Understanding how challenging the European markets have been to trade this year is far clearer when looking at the numbers. According to MarketAxess TraX...
Is a liquidity crisis brewing in European HY?
Concern around liquidity in Europe’s high yield market has been rising over the past quarter as it is hit by a double whammy, falling...
