A very clear contrast in trading volumes as sanctions bite
The second chart this week shows trading in Russian government bonds which fell off a cliff at the start of March, triggered by an...
Secondary volumes in 2021 outpace 2020 sell-off implying greater liquidity
The first quarter of 2021 saw record volume in US and European investment grade trading volume. This is surprising on several fronts, with significant...
Can you guess which market has seen the greatest fall in bid-ask spreads, year-to-date?
Two weeks ago, we asked what was crushing the US investment grade (IG) market’s bid-ask spread. However there has been an even greater reduction...
Seeing the pressure market makers are under in European credit
Secondary market data paints a picture of the challenges faced by sell-side market makers in the European corporate bond market during Q4. Information from...
Keep an eye on bank issuance
Bank bond issuance is expected to pick up this year according to research by Morgan Stanley analysts. With deposits proving less attractive as a...
Subscriber
What FINRA’s trade reporting changes tell us about consolidated tapes
Understanding the difference between commercial and public data offerings is crucial for data users. A good example of this difference can be found with...
Portfolio trading breaks into new markets
Emerging markets are adopting PT to add efficiency to liquidity sourcing, writes Matt Walters of MarketAxess.
Portfolio trading has seen a lot of success and...
How the effects of war are spreading in Asia
The war in Ukraine outside of Europe is, from a capital markets perspective, driving a ‘risk-off’ attitude across issuers, buy-side and sell-side firms. As...
The election effect: Secondary markets
While the effect of an election on the markets is typically subdued on the day itself – more so when the outcome is uncertain...
Under pressure
Secondary markets trading has seen a net trend towards tighter bid-ask spreads for trading across all corporate bond segments in US, Europe and emerging...
