On-the-run

Office of Financial Research: Treasury basis trades could pose systemic risk

A new paper from the Office of Financial Research (OFR) has cast doubt on the idea that basis trades increased the lack of liquidity...

Buy side wants new tools in primary market tsunami

Several buy-side traders report new primary bond market tools could come online this year in the US, with dealer consortium DirectBooks expected to step...

Fed’s Treasury Market Practices Group sheds light on March liquidity crisis

Minutes of the 31 March meeting of the Federal Reserve’s Treasury Market Practices Group (TMPG), including an update on a 19 March call between...

Record volumes reported across platforms

By Vineet Naik. Record trading volumes have been reported across platforms in 2019 despite decreased volatility and challenging market conditions. LiquidityEdge, TradeWeb, and MarketAxess have...

SSGA: Treasuries, convertibles and EM on the cards for 2019

By Vineet Naik. State Street Global Advisors (SSGA) is predicting that US Treasuries, convertible bonds and emerging market (EM) debt will see increased investment in...

Brokertec data shifts to Bloomberg with Reuters/Dealerweb data tie-up

By Shobha Prabhu Naik & Dan Barnes. Bloomberg, the financial data provider, has launched a new data service that will take NEX’s BrokerTec US Treasuries...

Federal Reserve group issues credit risk warning over US Treasuries trading

By Pia Hecher. The Federal Reserve’s Treasury Market Practices Group (TMPG), which discusses issues in the US government bond market, has said that firms are...

Greenwich Associates: Buy side negative on CLOB for US treasuries

By Flora McFarlane. Only 16% of buy-side firms thought using a central limit order book (CLOBs) would have a positive impact on trading US treasuries,...