Great Expectations (on rate cuts)
The latest BofA Global Fund Manager Survey has found that 76% of respondents expect two or more Fed cuts in 2024 versus 8% who...
MarketAxess industry viewpoint
Comparing portfolio trading and list RFQ TCA
By Gio Accurso, Grant Lowensohn and Jessica Hung, MarketAxess
Highlights and objectives
The MarketAxess Research team investigates any key...
High yield bond issuance relative to liquidity
A report by the Association for Financial Markets in Europe (AFME) has found that primary issuance of European high yield (HY) bonds in 2023...
Volumes drop off as Q1 ends, but liquidity still cheap
A broad decline of trading volumes across European & US corporate bond and emerging market debt trading coincided with end of the first quarter...
European investment grade seeing smaller, cheaper trades
European investment grade bond traders are seeing a falling bid-ask spread, and a rising trade count since the start of 2024, according to MarketAxess’s...
Issuing at the top of the market
The high levels of bond issuance this year, made at what is widely expected to be peak interest rates, are potentially building up high...
What is driving down EM trading costs?
Analysis of trade size and bid-ask spread data from MarketAxess’s CP+ pricing feed and Trax market data, which tracks activity across markets, indicates that...
Germany’s rates market comfort
Germany’s government bond market is in rude health, according to the latest analysis of sovereign debt by Andy Hill, director at the International Capital...
Morgan Stanley: EM issuance in 2024 to outstrip 2023
Assessment from Morgan Stanley has found sovereign hard currency gross issuance is likely to increase to US$164 billion in 2024 due to more open...
Emerging markets trading costs threaten to rise
Emerging market bond traders will see trading costs rising as volumes begin to decline. According to MarketAxess data from its CP+ pricing tool and...
