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...
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....
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...
Europe IG credit trade size collapsed and has not recovered
Corporate bond traders has seen the average trade size reducing in Europe across both investment grade and high yield, suggesting that block trading is...
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...
Is US investment grade market-making starting to fray?
In US credit, mean bid/ask spreads are skewing upwards from the median, indicating that a greater proportion of larger spreads are in some cases...
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%...
