New issuance drives up secondary selling
News that high yield (HY) issuance has fallen in Europe may be of little consolation to investment grade investors, as new data from MarketAxess...
Upping strike rate and strength in US IG
We often hear ‘nothing really changes’ in relation to capital markets so it is good to have an insight into real progress, courtesy of...
Have US IG trades hit their smallest size this year?
The fires of summer are being replaced by the floods of autumn, but in the bond markets a gentler and more positive outcome is...
Feeling the credit crunch in high yield trading
Trading costs for high yield bonds have been elevated on both sides of the Atlantic. The US saw a big jump in bid-ask spreads...
Can primary markets deflate?
Inflation levels could have a direct impact on volume of work – and therefore operational pressure – on buy-side trading desks.
Managing the process of...
A tale of two metrics – US IG corporate bond market liquidity in 2022
By Julien Alexandre, 12 October 2022
Corporate Bond Market Distress Index
The NY Fed recently launched the Corporate Bond Market Distress Index and backfilled it all...
Bid-ask spreads drop 25% on average in many markets
The cost of liquidity as measured by the bid-ask spread in bond trading has fallen by approximately 25% since the start of the year,...
UK government debt issuance soars
The latest report from the Association for Financial Markets in Europe (AFME), looking at European government bond markets, found that €1 trillion of bonds...
Emerging Markets Focus Part 2: Illiquidity in numbers
When investment flows are heavily directional it can make trading more challenging, as most investment firms are selling into a downward market or buying...
Prioritising investment on the high yield trading desk
When we look at the priorities of trading desks in developing more automated tools, we can consider the longer term market trends as a...
