This page is dedicated to research articles on primary fixed income markets. For further information please contact Dan Barnes.
THE BOOK
The Book: Nomura pushes for digital bond settlement efficiency
Nomura Research Institute has settled a Japanese digital bond using delivery versus payment (DVP) for the first time.
Settlement risk is a key concern for those trading digital securities in the domestic market, NRI said....
BondAuction breaks into liability management
BondAuction has expanded its platform capabilities to cover liability management.
“If an issuer would like to buy back its bonds, it can announce that to the market via an underwriter or underwriters and then investors...
The Book: Ukraine executes first govie switch auction
The Ministry of Finance of Ukraine has completed the country’s first government bond switch auction in partnership with the National Bank of Ukraine.
Switch auctions allow previously issued off-the-run debt instruments to be replaced with...
The Book: Primary dealer positions climb rapidly, but concerns appear unfounded
Primary dealer positions of US Treasury holdings are expanding rapidly, but concern around restrictions on capacity are misplaced according to analysis.
A new paper by Morgan Stanley analysts has outlined that primary dealers in the...
