This page is dedicated to research articles with secondary market data provided by MarketAxess. For further information please contact Dan Barnes.
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‘BoB’ – Barnes on Bonds
SECONDARY MARKETS
Squeezing the bid-ask spread
Bid-ask spreads in the corporate bond space have continued to collapse in 2025, suggesting that liquidity costs are dramatically improving for buy-side traders.
Looking at data from MarketAxess’s CP+ pricing service, median bid-ask spreads for...
Bid-ask spreads see double-digit tightening in early 2025
Analysis of MarketAxess’s CP+ data, which analyses composite trading costs based on traded bonds, has found that bid-ask-spreads have tightened by double digit percentages across credit markets for US, Europe and in emerging markets.
European...
PRIMARY MARKETS
Refinancing debt: New bonds, old problem
A new paper from Bank of America’s credit strategist Neha Khoda and Adam Vogel has found that bond issuers are facing a significant increase in costs due to the scale of outstanding debt and the notable...
Competition for debt issuance fierce as activity remains
Primary debt markets are likely to be a major revenue earner for dealers facing tighter margins in secondary bond markets. Issuance has started strongly in 2025 with “heavy” primary market activity.
Over fifty issuers have...
