Are average trade sizes really falling in the US?
Earlier this year we noted that average trade sizes were down considerably on 2022, but being wary of mean reversion, we wanted to revisit...
Analysis: E-trading platforms see gains and losses in corporate bond market battle
Morgan Stanley analysis of the monthly reports from market operators Tradeweb and MarketAxess, has shown wins and losses in market share for both platforms.
Looking...
2022: Big primary, smaller secondary?
Despite the expectation of rising rates across markets, S&P Global Ratings Research are predicting that issuance of new bonds across markets will not see...
S&P Global: European bonds slump to lowest first-half volume since financial crisis
By Thomas Beeston
European high-yield bond issuance is set for the lowest first-half total since the global financial crisis, as volatile interest rates and fears...
What is crushing the bid-ask spread in US IG?
The bid-ask spread in US investment grade credit has been falling this year, regardless of the trading volume activity.
Notional traded in the US...
How does the collapse of refinancing affect bond trading?
It costs more to borrow money in the US right now, than it has for a long time. Even more so for companies in...
Secondary volumes in 2021 outpace 2020 sell-off implying greater liquidity
The first quarter of 2021 saw record volume in US and European investment grade trading volume. This is surprising on several fronts, with significant...
Unlocking Liquidity for the U.S. Treasury Markets
Unlocking Liquidity for the U.S. Treasury Markets
By MarketAxess | 22 November 2022
Advocating for all-to-all trading has always been the MarketAxess way, but lately, it...
How the effects of war are spreading in Asia
The war in Ukraine outside of Europe is, from a capital markets perspective, driving a ‘risk-off’ attitude across issuers, buy-side and sell-side firms. As...
China Focus: The secondary effect of defaults
The bid-ask spread for bonds in China’ property market has expanded by 300% this year, although even more so for Evergrande which increased by...
