Trading Volumes

Tradeweb pulled ahead in electronic US credit trading last month, with average daily volumes (ADV) reaching US$10.5 billion. As a reminder, we also provide market-assessed pure electronic trading numbers for Trumid by adjusting its numbers...

Looking at MarketAxess data from its TraX service, covering fixed income trading across the corporate bond markets in Europe, the US and emerging markets credit, the most significant change over the past month is...

Tradeweb and MarketAxess have recovered from their April wobble in US credit, with Tradeweb taking its strongest lead to date. Average daily volumes (ADV) at the firm were up 20% year-on-year (YoY) and 9.2% month-on-month...

It is no surprise that trading costs are higher in high yield (HY) markets, but data from MarketAxess TraX, which measure activity across bond markets and its CP+ pricing tool, show that the volatility...

As we move into summer of 2026, central bank activity is strikingly different from where markets started the year, and it is directly legible in the trading data. The Fed kept the federal funds rate...

The Trump administration’s love of shaking things up each April – and then backing off again in response to the apparently unexpected results – allows us to look at the market response to increased...

The latest data from MarketAxess’s TraX data tool, which follows activity across multiple marketplaces, and its CP+ pricing tool, show that US markets, particularly US investment grade, are reaping the benefits of a deeply...

After converging sharply in January, average trade size in euro investment grade (IG) and high yield (HY) has begun to separate again, while bid-ask spreads in both sectors have widened through March. The new disclosure...

Average bid-ask spreads have been expanding and contracting like an accordion as investors and liquidity providers struggle to form a coherent view on inflation, growth, interest‑rate policy, and risk appetite, a result of the...

The Iran war is clearly visible in parts of corporate bond pricing and emerging market trade sizes, but other parts of the market appear more protected, for the moment. “Despite the macro headwinds weighing on...