The need to negotiate a consensus price
Request-for-quote (RFQ) remains the primary go-to protocol across electronic trading venues in corporate bond markets for buy-side traders.
Despite speculation that the electronification of...
Credit under pressure: What gives?
If interest rates go up, economic growth becomes strained and business conditions worsen, stress on the corporate bond and private credit markets will increase....
When the floor moves: The Treasury sell-off and the credit market liquidity test
The US Treasury market is the foundation for corporate bond market liquidity. When that foundation shakes, the tremors can quickly move into the credit...
Clearer credit markets mean (slightly) sharper axes
Dealers may be ‘kept honest’ by increased market transparency, according to some buy-side credit traders, but expectations are tempered by the fluidity needed around...
Iran war: Conflicted liquidity in credit
The attacks on Iran and its responses over the past week have injected a sharp dose of geopolitical risk into global markets, and the...
IG credit sees portfolio trading plateau while HY hits records
Portfolio trading (PT) continued its rapid expansion in 2025, with Morgan Stanley reporting total capped volumes in US markets reaching approximately US$1.3 trillion, a...
Credit traders get prepped for vol opportunities in 2026
Corporate bond traders should be well-prepared for sudden shocks in 2026, by broadening their access to solid pre-trade information, low-friction paths to liquidity and...
AI is giving credit traders extra digits
Artificial intelligence is helping to refine bond‑trading workflows with a speed and depth that would have seemed improbable even a few years ago. Fixed‑income...
Cross-asset TCA is viable in credit markets
Can transaction cost analysis (TCA) provide an apples-for-apples comparison of buy-side trading costs across different asset classes? Imposing a single measurement framework across markets...
Are bigger trades always better?
Average trade sizes appear to have been increasing in corporate bond markets in recent years. Superficially this might suggest a greater dealer capacity to...
