Liberty Street Economics asks: How Is the corporate bond market functioning as rates rise?
The Federal Reserve Bank of New York’s market structure and macro analysts, Liberty Street economics, has examined how corporate bond market functioning has withstood...
Breaking blocks
Electronic trading is certainly on a growth spurt – Coalition Greenwich reports e-trading was 46% volume across all assets in 2021 – but this...
White-paper summary: Filling the liquidity gap in bond index construction
Industry viewpoint: State Street Global Advisors SPDR® and MarketAxess
The success of ETFs in supporting bond market liquidity has been marred by a gap in...
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...
Are issuers predicting a 6% Fed Funds rate?
Bond issuance has continued to beat expectations in February 2023. Last month saw 774 investment grade bonds issued globally, for a notional value of...
Research: ETFs worsen fixed income liquidity in a crisis
An academic paper has argued that fixed income exchange traded funds (ETFs) “improve bond liquidity in general, but worsen it in periods of large...
The effect of war on pricing and spreads is widening
The economic effect of the Russian invasion of Ukraine needs to be put in context next to the human tragedy, but data is showing...
Axess All Prints: Real-time trade-level transparency for EU & UK markets
MarketAxess reveals how it has enhanced its original EU & UK trade tape, Axess All, to deliver a new level of transparency for clients and...
Viewpoint: Nichola Hunter – The next big evolution in rates trading
Q&A with Nichola Hunter at MarketAxess.
What were the drivers behind the MarketAxess expansion into rates?
There were two main drivers. One was to provide, primarily...
The UK’s inflation-linked notes getting snapped up
Data from Parameta, the TP ICAP company data and analytics provider, shows the five-year breakeven inflation rate for the UK, which represents a measure...
