Trading Volumes

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...

Splinters of a market

While liquidity in US investment grade (IG) markets has been holding up relatively well, MarketAxess data shows us that the past month has seen...

New issuance process unchanged for 59% of traders despite electronification

New research from analyst firm, Coalition Greenwich, has found that 59% of traders are still waiting to see an improvement in the new issue...

Bid-ask spread betting in credit

Betting how bid-ask spreads will move this year has been made more challenging by a dislocation between the mean average and the median bid-ask...

AFME update: European HY bond issuance fell nearly 60% year-on-year

A new report by AFME found that the primary high yield bond market decelerated significantly in Europe at the start of this year. High yield...

What bouncing US credit volumes tell us in June

Looking at corporate bond trading volumes over the past two weeks, data from MarketAxess appeared to show a recovery since levels plummeted in May...

The liquidity bears’ picnic

If you are on the desk, there is often an inverse relationship between the tension you experience and the volume of people relaxing on...

The enduring popularity of ‘Don’t Panic’

The phrase ‘Don’t Panic’ crops up frequently in comic fiction, notably in Douglas Adams’ book ‘Hitchhiker’s Guide to the Galaxy’ and in 1970’s British...

Withering supply of European high yield

Comparing the ‘year-to-April’ data across years, 2022’s high yield issuance looks more like the post-financial crisis period than most years in between. Data from CreditSights...