US liquidity costs spiked more violently than in Europe
Bid-ask spreads have widened massively in recent weeks, according to MarketAxess CP+ data, with the price in US investment grade nearly doubling in the...
Rising rates hit high yield availability
Despite some optimistic outlooks on bond issuance in 2023, high yield bonds are clearly seeing a decline in Europe, based on data from the...
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...
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...
The cost of European liquidity is falling, does e-trading beckon?
Good news for buy-side traders in European credit markets. Looking at MarketAxess Trax, which tracks trading across multiple markets and counterparties, bid-ask spreads are...
Europe’s record IG credit issuance could boost electronic trading
January was a record month for investment grade bond issuance in Europe, with shorter-dated driving this activity. According to analyst firm CreditSights, shorter maturity...
Can primary markets deflate?
Inflation levels could have a direct impact on volume of work – and therefore operational pressure – on buy-side trading desks.
Managing the process of...
US Credit: Liquidity costs trending down
The bid-ask spread in US high yield trading is falling again having suffered an uptick in December, according to MarketAxess Trax, which tracks trading...
Primary markets start 2023 with top ten hit
Bond issuance for US investment grade on 3 January 2023 was the tenth largest day on record, according to data from Dealogic.
While January is...
Same trading costs, different year
The new year has seen trading volumes drop back to a similar level as seen in early January 2022, but in European credit, bid-ask...
