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...
Who can make money, market making Euro credit?
Looking at the average bid-ask spreads of European credit trades, and correlating them with the average trade sizes for the year to date based...
Falling costs of liquidity not halted by summer vol
The bid-ask spread for corporate bond markets has continued on a downward trajectory in September, after a bump in August, according to data from...
The effect of trade sizes on high yield liquidity costs
Trading in high yield markets across the Atlantic is diverging considerably, with average trade sizes and bid-ask spreads tracking quite different patterns, according to...
Falling emerging market liquidity costs reversed with Fed concerns
Traders in hard currency fixed income emerging markets have seen a decline in the costs of liquidity this year, according to data from MarketAxess’s...
