The interplay between the cash and derivative credit markets
For investors, the derivatives market is a potentially a rich source for investment returns and risk management. It can also be a valuable source...
Money markets begin to tail off as rates fall
Reviewing the second quarter activity in primary markets and fund flows, we see the total notional outstanding in US fixed income totalled US$45.3 trillion,...
When not to use portfolio trading
Portfolio trading cannot please all of the people all of the time.
The success of portfolio trading (PT) as a protocol has taken bond markets...
IRS electronification: 20 years in the making
With the 20th anniversary of Tradeweb’s interest rate swaps (IRS) marketplace around the corner, the firm’s head of US institutional Rates, Bhas Nalabothula, looks...
Analysis: Electronic trading across US and European bond markets
Electronic trading of US credit erupted in May 2024, according to analysis of the US credit market by Coalition Greenwich. It found that investment...
Meet the consolidated tape contenders
Europe’s development of a consolidated tape for trading data now has clear front runners and benefits.
Three firms have confirmed they will compete to be...
FILS USA: The three fierce battles for credit e-trading market share
Electronic trading in US fixed income is hotly contested between Bloomberg, MarketAxess, Tradeweb and Trumid all competing for market share of trading cash bonds...
The pros and cons of record issuance
Bond markets typically see increased liquidity around a bond shortly after it is issued. However, this does not mean that markets are automatically more...
High Yield issuance is taking off
Comparing corporate bond issuance volumes for 2023 and 2024, we can see that the pattern is frequently a high start to the year, with...
Bigger / smaller: What sizes are optimal for electronic trading?
Credit trading has been transformed by evolving electronic execution, which has allowed buy-side desks to express investment ideas in to the market using more...
