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...
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...
Evidence of trading efficiency from electronification
This week we look at the growth of electronic trading in the US fixed income markets, and the potential it holds to reduce time...
The liquidity bears’ picnic
If you are on the desk, there is often an inverse relationship between the tension you experience and the volume of people relaxing on...
Europe sees big drops in implied liquidity costs
Since the start of 2023, European corporate bonds have seen a greater drop in bid-ask spreads than has been seen in their US investment...
European credit – get it while it’s hot!
Bid ask spreads in European investment grade (IG) credit trading have fallen substantially over the past month, based on data from MarketAxess’s CP+ composite...
Emerging markets’ uneasy calm
Bid-ask spreads for fixed income trading in emerging markets have stabilised after a tumultuous year in 2022, according to TraX data, triggered by the...
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%...
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...
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+...
