Picturing uncertainty in a traditionally stable market
Trading numbers in secondary corporate bond markets appear to reflect anecdotal reports of volatility bursts, as political false starts impact the reading of major...
Emerging markets see liquidity costs decline
The cost of liquidity in emerging markets appears to be falling for fixed income traders. Looking at MarketAxess’s CP+ consolidated price feed, and cross-referencing...
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...
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...
Is Europe being punished for slower e-trading adoption?
The liquidity shortfall, expected at the end of the year, is traditionally triggered by dealers’ reluctance to make markets when their risk positions are...
Trade sizes rise in Europe, fall in US
The end of 2024 indicates is seeing quite different changes to trade sizes in the corporate bond markets of Europe and the US, according...
Visualising aggressive pricing pressure on trading costs
Analysing year-to-date volume and trade number data from MarketAxess’s TraX database for US credit, and correlating it with the weekly average MarketAxess CP+ bid-ask...
The election effect: Secondary markets
While the effect of an election on the markets is typically subdued on the day itself – more so when the outcome is uncertain...
Under pressure
Secondary markets trading has seen a net trend towards tighter bid-ask spreads for trading across all corporate bond segments in US, Europe and emerging...
Is European credit electronification bouncing back?
There has been a noted proportional increase in electronification of US credit trading, as tracked by Coalition Greenwich. However, metrics around European trading found...
