Not average: Trade sizes in 2024
Looking at the average trade sizes for high yield and investment grade bonds, across Europe and the US in 2024, we can see considerable...
Do banks want credit trading to look like FX?
The end game of market making commoditisation is that a smaller number of players provide a vast volume of liquidity to the majority of...
Sustainable bond issuance now 12% of total market
A report co-authored by Nicholas Pfaff, Valérie Guillaumin, Simone Utermarck, Ozgur Altun and Stanislav Egorov of the International Capital Markets Association (ICMA), has found...
Opinion: Competition, not regulation, will make better bond markets
European credit trading has historically seen levels of electronic trading of around 50% of total corporate credit trading, while the US market has historically...
Analysis: Electronic trading across US and European bond markets
Electronic trading of US credit erupted in May 2024, according to analysis of the US credit market by Coalition Greenwich. It found that investment...
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The good news on high yield trading
Two weeks ago we noted that high yield markets have seen trade sizes increase since the start of the year, running counter to the...
Issuance of debt increasingly financing UK companies
Analysis of corporate financing across European, UK and US markets by the Association of Financial Markets in Europe (AFME) has found that over the...
High Yield issuance is taking off
Comparing corporate bond issuance volumes for 2023 and 2024, we can see that the pattern is frequently a high start to the year, with...
Emerging market bonds issuance and returns grow
This week we examine the very directional movements of emerging markets (EM) assets under management (AUM), due to investment flows and growing issuance. With...
CME’s US corporate bond index futures to launch 17 June
CME Group has revealed that its new credit futures are scheduled to begin trading on 17 June 2024, pending regulatory review.
Launching alongside the company's...
