Do Europe’s credit trading costs invert the pattern for US debt trades?
An analysis of average bid-ask spreads in corporate bond markets across the European and US markets suggests that median bid ask spreads responses are...
Origination: Will Germany support European debt mutualisation?
UBS Asset Management’s Jonathan Gregory, head of UK fixed income, has posited the idea that European countries may at some point seek to mutualise...
MarketAxess brings e-trading to Indian govies
MarketAxess has become the first firm to offer electronic trading in India with the launch of an Indian Government Bond (IGB) trading solution for...
European govies issued at record level in Q1
This year saw the highest first-quarter European government bonds and bills issuance volume since 2006 as €1.2 trillion was issued in Q1 2025, according...
Electronification of US credit delivers resilience
The electronification of the US corporate bond markets has demonstrated that its improved efficiency has strengthened depth of liquidity provision, rather than made it...
“There is still an edge in systematic trading”
Systematic trading is often associated with highly liquid instruments, but asset managers have outlined success stories in less liquid debt markets, at the Fixed...
Treasury futures fight intensifies between FMX and CME
The US Fixed Income Leaders Summit 2025 showcased the fierce rivalry in the US treasury futures space, between incumbent giant exchange CME and upstart...
Portfolio trading proves transformational, but controversial
The US market has been transformed by portfolio trading (PT) this year, with estimates that PT makes up somewhere between 25-40% of dealer-to-client (D2C)...
When volatility improves credit liquidity
Credit market liquidity has been positive in the first half of 2025, despite the high levels of volatility.
There are several dynamics which might be...
Primary held in check by tariff and rate uncertainty
Gross credit issuance has fallen in developed markets, according to data from Dealogic and Morgan Stanley, across investment grade (IG) and high yield (HY).
DM...
