Dan Barnes
Editorial Director
Latest From Dan Barnes
Neil Palan joins Sarasin & Partners
Neil Palan has joined Sarasin & Partners, an investment manager with £18.8 billion in assets under management, as a multi-asset trader. Palan spent 16 years at Odey Asset Management, most recently as a trader and head of treasury, before the f...
Read moreThe credit trading processes you really should have automated by now…
Automation has historically been highly challenging in corporate bond markets for several reasons, but traders say some parts of the workflow ‘ought’ to be automated by now within buy-side firms. There are markets in which trading is so automate...
Read moreBid-ask spreads drop 25% on average in many markets
The cost of liquidity as measured by the bid-ask spread in bond trading has fallen by approximately 25% since the start of the year, according to data from MarketAxess’s CP+ pricing service. In real terms, the drops reflect falls of nearly ten b...
Read moreGreat 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 expect to see no cuts. That said, but investors are reportedly less optimistic on inflation and bonds than they were ...
Read moreJupiter AM: Training to trade against heavyweight rivals in fixed income
Jupiter Asset Management has trained its trading team on data and analytics in order to beat its rivals to the punch when finding liquidity and pricing in fixed income. Alison Hollingshead, chief operating officer (COO), and Mike Poole, head...
Read moreJefferies moves into outsourced fixed income trading with Siegel hire
Industry veteran Jory Siegel has joined Jefferies as head of fixed income outsourced trading, from Marex. Siegel was previously managing director and head of fixed income outsourced trading at TD Cowen, which was bough by Marex. He has over...
Read moreEquity venues are dating websites; credit venues are bars
Equity venues are dating apps – you have to be a member to use the central limit order book (CLOB), and it will match you up with a counterpart based on its rules. In corporate bond markets, venues are bars – you can meet counterparts there, but...
Read moreHigh 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 reached a value of €66 billion on 185 deals, which was a 46.7% increase over the €45 billion achieved on 1...
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